The climb of the CMBS special servicing rates continues by Trepp's count. In August, the overall rate lifted another 16 basis points to 8.46%. So far in 20204, CMBS special servicing has climbed every month from January through August, when it hit a three-year high. One year ago, it was 6.67% and six months ago it was 7.14%.
Looking only at CMBS 2.0+, the special servicing rate was 8.34%. In August 2023, it was 6.44% and six months ago it was 7.03%. For CMBS 1.0, the special servicing rate was 26.19%, compared to 33.12% a year ago and 23.40% six months ago.
By property type, the only category to break the pattern was industrial, seeing a three basis point drop from 0.43% in June to 0.40% in July, and then an additional one basis point down to 0.39% 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
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.