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Exterior of luxury apartment building The Ocean at 1 West Sgt. in Lower Manhattan posted the biggest annual NOI growth among apartment properties backing CMBS loans of greater than $50 million.

NEW YORK CITY—NOI in properties backing CMBS showed slower growth across the major property sectors in 2016, Fitch Ratings said Friday, although a couple of sectors showed slight increases from the previous year. The average of 2.3% improvement for properties securitized within the Fitch-rated US CMBS multi-borrower universe compares to NOI growth averaging 3% in 2015, 3.2% in 2014, 2.5% in 2013 and 2.5% in 2012.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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