NEW YORK CITY—Thanks to resolutions from a single 2007-vintage deal, JPMCC 2007-LDP10, US CMBS delinquencies in May fell to a level not seen since December 2009, Fitch Ratings said Monday.  The rate of Fitch-rated late pays inched down 16 basis points from the previous month to 4.97%, the first time it has dipped below 5% in more than four years.

The largest resolutions in May by loan balance included two from JPMCC 2007-LDP10: the $103.5-million Long Island Marriott and Conference Center, which was resolved with a 40% loss; and the $55-million Overland Park Trade Center, resolved with a 67% loss. Other large resolutions included the $89.4-million Gateway I, from MSCI 2007-IQ13; and the $73.6- million Islandia Shopping Center, from LBUBS 2007-C6, both of which were brought current.

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

Copyright © 2022 ALM Global, LLC. All Rights Reserved.