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Nearly 80% of maturing CMBS loans pay off on time in August

by Reg Clodfelter

Of the 145 performing CMBS loans worth $1.44 billion scheduled to mature in August, 108 of them, totaling $1.15 billion, matured and paid off on time (all figures in this article from Morningstar Credit Ratings). The numbers gave August an on-time payoff rate of 79.9 percent, making it the second consecutive month and the third in the past four to have an on-time payoff rate higher than 75 percent. The payoff rate for all of 2014 is at 71.0 percent, a slight improvement over the 70.1 percent aggregate number for 2013.

Morningstar estimates that $7.97 billion of performing CMBS loans are scheduled to mature by the end of 2014, bringing the year’s total to $16.9 billion. With a final total projected to be in the neighborhood of $17 billion, 2014 is still in the calm before the maturity storm. Approximately $74.19 billion of performing CMBS loans are scheduled to mature in 2015, followed by approximately $116.56 billion in 2016 and $114.01 billion in 2017, many of w

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