Research - JULY 1, 2015

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CMBS delinquency rises in June

by Zoë Wolff

The CMBS delinquency rate rose to 5.45 percent in June, after significant improvement in May, up five basis points from the previous month, according to Trepp, LLC. It is 60 basis points lower than the year-ago level and 30 basis points lower year-to-date.

There were $1.4 billion of newly delinquent loans in June, while $1.1 billion in previously delinquent loans were paid off at par or with a loss and $400 million in loans cured. The total delinquent unpaid balance is $28.5 billion. The percentage of seriously delinquent loans rose nine basis points to 5.32 percent.

The industrial delinquency rate had the greatest drop, declining 38 basis points to 7.12 percent. The multifamily delinquency rate gained 11 basis points to 8.73 percent in June, after a 30 basis point drop in May. Lodging is the best performing property type with a delinquency rate of 3.75 percent. Office and retail are in the middle with 5.9 percent and 5.54 percent, respectively.

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