The special servicing rate on commercial mortgage-backed securities hit 10.04% in August, an increase of 55 basis points from July, according to a report by Trepp.
The rise was tied primarily to the retail and lodging industries and continued a consistent increase in the rate that started in March. The retail special servicing rate was 17.3%, up from 16.0% the previous month..The lodging special servicing rate was 25%, up from 24.3% in July. The rate for lodging was the second-highest increase among all property types.
Earlier this month, Trepp reported that the CMBS delinquency rate continued to drop, dipping to 9.02% in August.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Cheryl Miller
Cheryl Miller, based in Sacramento, covers the state legislature and emerging industries, including autonomous vehicles and marijuana. She authors the weekly cannabis newsletter Higher Law. Contact her at [email protected]. On Twitter: @CapitalAccounts
