Just one month after surging, the rate of past-due payments on securitized commercial real estate loans improved. Apartment loans are performing best.
On loans that are included in commercial mortgage-backed securities, delinquency of at least 60 days concluded July at 6.72 percent.
That was an improvement from the preceding month, when CMBS conduit loan delinquency
ended the period at 7.07 percent.
Moody’s Investors Service reported the securitized CRE loan performance
metrics Monday based on the $332 billion in CMBS it rates.
The month-over-month improvement followed a 10-basis-point increase in June.
Sixty-day delinquency on multifamily CMBS loans was
2.84 percent as of July 31, tumbling from a month earlier by 126 basis points — the lowest rate of any property type.
On securitized industrial property loans, delinquency fell 83 BPS to 8.58 percent — though that was still the highest rate of any property type.
Delinquency was also down on hotel and office CMBS loans. But the rate deteriorated on retail property loans.
