X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Although the two ratings agencies differed on exactly how long it’s been since CMBS delinquencies have gone down instead of up, Fitch Ratings and Trepp both said last week that delinquencies had indeed declined during October. Both cited the resolution of the $4.1-billion Extended Stay America loan as a major factor in the drop, with Fitch noting that the Extended Stay action cut hotel delinquencies by about one-third.

Trepp cited a 47-basis point decline to 8.58% in October, which it said was the first month-to-month decline of CMBS delinquencies since the summer of 2009. That leaves $58.3 billion worth of CMBS loans that are at least 30 days past due, according to Trepp.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.