Prices for non-performing and impaired performing commercial real estate loans gained in October, according to new data released by Boston-based DebtX.
DebtX reports that the estimated price of whole loans securing the U.S. commercial mortgage-backed securities universe increased to 88.9% in October, up from 88.7% in September. Loan values were 85.3% last month. As of Oct. 31, DebtX priced 54,825 commercial loans with an aggregate principal balance of $765.5 billion.
The weighted average monthly price of impaired performing loans traded at DebtX's marketplace was 79.4% in October, up from 78% in September and 70.8% in October 2011. The weighted average monthly price of nonperforming commercial loans traded at DebtX's marketplace was 51.9% in October, up from 50.9% in SeptemberÂ and 40.3% in October 2011.
‘Loan prices rose again in October due to the continuing recovery in the commercial real estate capital markets and steady demand for product from a broad range of investors,’ says DebtX Managing Director Will Mercer. ‘Non-performing and impaired performing loans are up strongly from a year.’