Trepp, a leading provider of data, insights, and technology solutions to the structured finance, commercial real estate, and banking markets and Commercial Real Estate Direct released The Mid-Year Magazine 2024, a first half of the year recap of the state of the commercial real estate (CRE) and CMBS markets.
NEW YORK, June 10, 2024 /PRNewswire-PRWeb/ -- Trepp, a leading provider of data, insights, and technology solutions to the structured finance, commercial real estate (CRE), and banking markets and Commercial Real Estate Direct released The Mid-Year Magazine 2024, a first-half recap of the CRE finance and CMBS markets. Access the magazine here: https://www.trepp.com/trepp-cre-direct-mid-year-2024.
The CRE market continues to grapple with persistent risk and distress, with office properties bearing the brunt of the impact. A total of $75.74 billion of CMBS loans against office properties mature by the end of next year. That is more than half of all CMBS loans slated to mature in this period.
CMBS special servicing and delinquency volumes have climbed considerably this year too. In the office sector alone, a balance of $17.94 billion is now in the hands of special servicers, up nearly 28% from the end of last year. The volume of delinquency in the CMBS universe has reached levels not seen since 2021.
"It shouldn't come as a surprise to anyone involved in CRE that a large slug of mortgages annually comes up for refinancing. It's the nature of the beast, as commercial mortgages typically don't fully amortize over their lives," said Orest Mandzy, Managing Editor of CRE Direct. "So, every year, we see anywhere from 7% to 12% of the mortgage universe come up for renewal. And every year, lenders and borrowers come to terms on most deals and many loans end up getting refinanced."
Readers can find a variety of stories within this edition that provide insights on topics such as maturing mortgages facing lease rollover risk, CMBS delinquency levels increasing, post-COVID CRE loan spreads, CMBS special servicing volume jumps, and much more.
Instantly access The Mid-Year Magazine here: https://www.trepp.com/trepp-cre-direct-mid-year-2024
For more information on The Mid-Year Magazine or any of the analyses, email [email protected] or visit http://www.Trepp.com. Follow @TreppWire and @crenewstweets on Twitter for daily CRE and CMBS market updates.
About Trepp:
Trepp, founded in 1979, is the leading provider of data, insights, and technology solutions to the structured finance, commercial real estate, and banking markets. Trepp provides primary and secondary market participants with the solutions and analytics they need to increase operational efficiencies, information transparency, and investment performance. From its offices in New York, Dallas, and London, Trepp serves its clients with products and services to support trading, research, risk management, surveillance, and portfolio management. Trepp subsidiary, Commercial Real Estate Direct, is a daily news source covering the commercial real estate capital markets. Trepp is wholly owned by Daily Mail and General Trust (DMGT).
About Commercial Real Estate Direct:
Commercial Real Estate Direct, founded in 1999 and a subsidiary of Trepp, is a daily news source covering the commercial real estate capital markets. Each day, its seasoned staff of editors and real estate journalists delivers up-to-date market intelligence on the mortgage business, equity raising, investment sales, and CMBS. CRE Direct also provides its readers with actionable data through its Property Sales Database, which details more than 25,500 large property transactions, CMBS Pricing Matrix, the industry's only weekly pricing survey, and the CMBS Pipeline, a calendar of upcoming transactions with historical pricing information.
Media Contact
Ennys Soydas, Trepp, Inc., 2127541010, [email protected], www.trepp.com
SOURCE Trepp, Inc.
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