CMBS Delinquencies Surge in April, Led by Office

CMBS Delinquencies Surge in April, Led by Office

The Trepp CMBS Delinquency rate surged in April 2024 after posting a slight decline in March. Overall, the delinquency rate increased 40 basis points to 5.07% for the highest level since September 2021, when the rate was 5.35%.

The increase was driven by spikes in the office, lodging and retail sectors, Trepp said. More than a dozen securitized loans with outstanding balances greater than $100 million became delinquent during April.

Office led in both the overall delinquency rate at 7.38% and the biggest monthly increase at 80 bps, following by lodging with a 52-bp increase and retail with a 38-bp rise. The size of the month-over-month increases for each of these three property sectors was the highest in almost a year.

Conversely, multifamily delinquencies saw a 51-bp decrease to 1.33%, while industrial delinquencies declined three bps to 0.44%

Article Source: https://www.connectcre.com/stories/cmbs-delinquencies-surge-in-april-led-by-office/ | Post Publish Date: May 2, 2024 9:09 am | Author Name: *If Author Name fails to auto populate herein, auto population of Author to auto generate on previous news page, via RSS aggregator, or follow the "Article Source" link above to open original post URL. VANDEWEERD COMMERCIAL / VANDEWEERD, LLC is making or makes said material available and/readable for the following (to include but not be limited to): News Reporting, Teaching, Research Purposes, etc. See Terms of Use along with Privacy Policy for additional information.