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CMBS delinquency dropped to a post-financial-crisis low in July, according to Trepp LLC and Fitch Ratings.
The delinquency rate across all property types dropped to 2.62 percent last month, says Trepp, which represents a 22-basis-point reduction from June, as reported in National Real Estate Investor. Trepp attributes the drop to the resolution of legacy loans. Fitch, for its part, calculates that the overall delinquency rate stood at 1.83 percent for the month, four basis points below its June level.
Trepp reports a nine-basis-point decline in retail-sector CMBS delinquency for July, to 4.35 percent.
Fitch says mixed-use properties stayed level, at 0.99 percent. In the hotel sector the rate dropped by three basis points, while office properties saw an 11-basis-point decline. Industrial properties saw the biggest decline — 19 basis points — to 0.77 percent.
By Edmund Mander
Director, Editor-In-Chief/SCT
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