The delinquency rate for commercial mortgage-backed securities (CMBS) rose 16 basis points to 9.03% from August to September, according to InvestCap Advisors, a Waltham, Mass.-based provider of surveillance data on loan and commercial real estate performance.
‘We continue to see deterioration in commercial real estate loan performance with lodging properties leading the way with the delinquent rate of over 19%,’ says Scott Barrie, managing director of Investcap Advisors.
Commercial multifamily property loans 30 days delinquent or greater topped 13.1% andÂ retail properties increased to 7.4%, followed by office at 7.1% and industrial at 6.1%.
"This performance, although a smaller monthly increase in September, still indicates we are far from out of the woods," says Barrie.
The Investcap Advisors CMBS delinquency report is released monthly and created from data on over $695 billion in CMBS loans.
SOURCE: InvestCap Advisors