May 12, 2017
The Trepp CMBS Delinquency Rate pushed higher in April, as a large number of loans reached balloon dates and failed to pay off. The U.S. CRE delinquency rate for CMBS loans stands at 5.52%, an increase of 15 basis points from March, according to Trepp.
Nearly $2.5 billion in loans became newly delinquent in April. The rate has steadily moved higher since hitting a low mark in February 2016.
Five largest delinquent April CMBS loans:
- Two Herald Square, Midtown Manhattan (office and retail): $200 million loan
- JP Morgan Portfolio, three assets in Phoenix and Houston (office and parking): $198.5 million loan
- Save Mart Portfolio, 31 stores across Northern California (retail): $160.6 million loan
- Mall of Acadiana, Lafayette, LA (retail): $124.7 million loan
- Koger Center, Tallahassee, FL (government office): $115 million note
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