In March 2023, the Trepp CMBS Delinquency Rate fell three basis points, while the office rate rose.
NEW YORK, April 5, 2023 /PRNewswire-PRWeb/ -- Trepp, a leading provider of data, insights, and technology solutions to the structured finance, commercial real estate, and banking markets has released the March 2023 commercial mortgage-backed securities (CMBS) Delinquency Report, revealing that the rate dipped in March, but the office rate continued to climb. Instantly access the complete report here: https://www.trepp.com/instantly-access-delinquency-report-march-2023
The Trepp CMBS Delinquency Rate fell three basis points in March to 3.09%, but the segment that everyone continues to watch closely saw its rate move higher again in March. A big decline in the retail rate, along with small improvements in industrial and hotel, helped the overall number.
However, the office market – for which sentiment has turned sharply negative over the last few months saw a sizable uptick last month. "Concerns over the office segment were already high before 2023 over higher interest rates, looming maturity, falling values, and uncertainty about demand post-COVID," said Manus Clancy, Trepp Senior Managing Director.
For additional details, such as historical comparisons, analysis on all major property types, an overview of loans newly specially serviced, and the status of loans in grace period or beyond, download Trepp's March 2023 CMBS Delinquency Report: https://www.trepp.com/instantly-access-delinquency-report-march-2023
The delinquency rate is a metric that tracks the total percentage of delinquent loans in CMBS. A loan is considered delinquent if it is 30/60/or 90+ days behind payment; in foreclosure; REO; or has missed its maturity date and is not paying interest. The total delinquent balance in CMBS is divided by the total outstanding balance in CMBS and converted into a percentage to determine the overall delinquency rate.
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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).
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Riley Cox, Trepp Inc., 2127541010, [email protected]
SOURCE Trepp Inc.
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