Trepp, LLC, a provider of information, analytics and technology to the commercial real estate and banking markets, released its August 2013 U.S. CMBS Delinquency Report today.
The delinquency rate for US commercial real estate loans in CMBS dropped for the third straight month to 8.38%. This represents a 10-basis-point drop since July's reading and a 175-basis-point improvement from a year ago. The August 2013 level is the lowest Trepp delinquency rate in three years.
There were about $2.5 billion in new delinquencies in August, which was slightly higher than the $2.4 billion July total. Helping to offset these newly delinquent loans were $1.5 billion of loans that cured. Loan resolutions, although down nearly 50 percent from July, totaled just over $1 billion, while under half a billion dollars in formerly delinquent loans were paid off in August without a loss. Both categories of loans put further downward pressure on the delinquency rate.
"August saw a continuation of the year-long downward trend in the Trepp CMBS delinquency rate, which reached an all-time high of 10.34% just over 12 months ago," said Manus Clancy, Senior Managing Director at Trepp. "We anticipate this trend will carry forward in the months ahead as a new wave of expected deals will put additional downward pressure on the numbers."
There are currently $45.5 billion in delinquent U.S. CMBS loans, excluding loans that are past their balloon date but current on their interest payments. About 2,900 are currently with the special servicer.
Among the major property types, retail remains the best performer, while industrial remains the worst, despite substantial improvement in August. The lodging delinquency rate saw the best month to month improvement, while CMBS office loans saw a small increase in the delinquency rate.
For additional details, such as historical delinquency rates and August delinquency status, request the August 2013 U.S. CMBS Delinquency Report at http://www.trepp.com/knowledge/research. For daily CMBS and bank trading ideas, credit events and commentary, register for TreppWire or follow Trepp on Twitter.
About Trepp, LLC
Trepp, LLC is the leading provider of information, analytics and technology to the CMBS, commercial real estate and banking markets. Trepp provides primary and secondary market participants with the tools and insight they need to increase their operational efficiencies, information transparency and investment performance. For more information visit www.trepp.com.
Related Stories
Multifamily Housing | Aug 9, 2017
Multifamily developers, designers cater to occupants’ need for mobility
Bike storage facilities and “bicycle kitchens” are among the most popular mobility amenities in multifamily developments, according to a new survey by Multifamily Design + Construction magazine.
Giants 400 | Aug 9, 2017
Innovation at 72 design firms
The following is a list of advancements architecture and A/E firms underwent in 2016, as reported in Building Design+Construction's 2017 Giants 300 Report.
Giants 400 | Aug 9, 2017
Top 115 Architecture Firms
Gensler, Perkins+Will, and HKS top Building Design+Construction’s ranking of the nation’s largest architecture firms, as reported in the 2017 Giants 300 Report.
Giants 400 | Aug 9, 2017
Top 100 Architecture/Engineering Firms
Stantec, HOK, and CallisonRTKL are among the nation’s largest architecture/engineering firms, according to Building Design+Construction’s 2017 Giants 300 Report.
Contractors | Aug 4, 2017
4 ways to prepare for a negotiation
Practice, practice, practice, and understanding both sides of the deliberation are critical to success in any negotiation.
Laboratories | Aug 3, 2017
Today’s university lab building by the numbers
A three-month study of science facilities conducted by Shepley Bulfinch reveals key findings related to space allocation, size, and cost.
Lighting | Aug 2, 2017
Dynamic white lighting mimics daylighting
By varying an LED luminaire’s color temperature, it is possible to mimic daylighting, to some extent, and the natural circadian rhythms that accompany it, writes DLR Group’s Sean Avery.
Healthcare Facilities | Aug 2, 2017
8 healthcare design lessons from shadowing a nurse
From the surprising number of “hunting and gathering” trips to the need for quiet spaces for phone calls, interior designer Carolyn Fleetwood Blake shares her takeaways from a day shadowing a nurse.
Sponsored | Architects | Aug 2, 2017
Are visual ergonomics the new key to project delivery?
An Australian Home Theater Company is out to prove that the easier you can see it, the easier you can sell it.
Multifamily Housing | Jul 27, 2017
Apartment market index: Business conditions soften, but still solid
Despite some softness at the high end of the apartment market, demand for apartments will continue to be substantial for years to come, according to the National Multifamily Housing Council.
