Performance on industrial property loans was more improved last month than on any other type of securitized commercial real estate loan.
Loans included in commercial mortgage-backed securities had an average 30-day delinquency rate of 6.03 percent in September.
CMBS delinquency was off from 6.10 percent in August and has significantly improved from 8.14 percent in September 2013.
Trepp LLC reported the performance statistics.
One of three pieces of a $345 million Mall of America loan became defeased, assuring that the two other pieces will inflate October’s numbers.
In all, $1.9 billion in newly defeased loans appeared in Trepp’s database during September.
Fueling the month-over-month improvement were industrial loans, with the 30-day rates sinking 73 basis points from August to 7.66 percent.
A 31-basis-point decline in delinquency left the lodging loan rate at 5.06 percent.
Multifamily delinquency retreated 10 BPS from the previous month to land at 8.99 percent as of Sept. 30.
At 6.56 percent, office loan delinquency slipped 5 BPS to 6.56 percent last month.
Only one category, retail property loans, had an increase: 17 BPS. That put the 30-day rate at 5.86 percent as of the end of September.
