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.

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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