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Another Slight Rise for CMBS Late-Pays

NEW YORK CITY—On the other hand, Trepp’s Joe McBride says CMBS enjoyed “another sustained period of tightening spreads and increased demand in the face of meager new issuance” during April.

Joe McBride of Trepp “The CMBS delinquency rate has regressed to smaller month-over-month changes,” says Trepp’s Joe McBride.

NEW YORK CITY—There are two ways to look at the CMBS market as the month of May gets underway. One is to note that the delinquency rate, as reported by Trepp LLC, ticked upward by a basis point in April. Another is to point out, as Trepp’s Joe McBride does, that the market itself is on the upswing.

“The CMBS delinquency rate has regressed to smaller month-over-month changes following two months of huge improvements to begin 2016,” says McBride, research associate at New York City-based Trepp. “Although the rate inched higher for the second straight month, the CMBS market enjoyed another sustained period of tightening spreads and increased demand in the face of meager new issuance.”

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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