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Fewer U.S. loans backed by commercial properties fell into delinquency in October, according to research firm Trepp.
The firm’s CMBS delinquency rate index dropped to 5.21 percent in October, 19 basis points lower than September’s rate. This marks the fourth straight month of declines for the sector, which Trepp says is in recovery after absorbing a wave of maturations that came due in June.
The retail delinquency rate eased by eight basis points month on month, to 6.47 percent, in October, versus 6.24 percent for industrial properties, 3.42 percent for hotels and 2.98 percent for multifamily property loans.
Trepp defines delinquency as being 30 days or more in arrears.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
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