Research - SEPTEMBER 1, 2015

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CMBS delinquency rate inches back up in August

by Zoë Wolff

The CMBS delinquency rate rose 3 basis points in August, according to Trepp, undoing July’s 3 basis point drop and returning the CMBS delinquency rate to 5.45 percent. The rate is now 65 basis points lower than the year-ago level and 30 basis points lower year-to-date.

There were $1.3 billion of newly delinquent loans in July, while $1 billion in previously delinquent loans were paid off at par or with a loss, and approximately $425 million in loans cured. The percentage of seriously delinquent loans rose 6 basis points to 5.28 percent. There are currently $28.4 billion in delinquent loans.

The multifamily delinquency rate had the greatest rise, increasing 23 basis points to 8.99 percent. The industrial delinquency rate also continued to rise, gaining 21 basis points to 7.62 percent in August, and retail rose 2 basis points to 5.53 percent. The office delinquency rate fell 7 basis points to 5.86 percent. Lodging continued to be the best-performing proper

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