For the second month in a row, the performance of securitized commercial real estate loans improved. Industrial loans led the decline in late payments.
Loans that were at least 30 days past due
accounted for 5.44 percent of all loans that are included in commercial mortgage-backed securities as of August.
The delinquency rate retreated compared to last month, when 5.49 percent of all CMBS loans were past due and the rate plummeted 26 basis points from June.
In August 2016, the 30-day CMBS delinquency rate was 4.68 percent.
Those statistics were reported Wednesday by Trepp LLC.
The ratings agency noted that the wave of maturities has recently slowed as distressed loans are being resolved.
Delinquency on industrial CMBS loans stands at 6.55 percent, moving down from July by 41 basis points — more than for any other property type.
A 19-basis-point decline left the rate on securitized hotel loans tat 3.49 percent as of August 2017.
At 6.61 percent, the rate on
retail CMBS loans was down 2 BPS from last month.
No change from the preceding month left the rate on securitized multifamily loans at 2.91 percent as of this month.
The only category to experience deterioration was office building loans, with the rate rising 7 BPS to 7.31 percent.
