The delinquency rate among U.S. CMBS rated by Kroll Bond Rating Agency (KBRA) rose 23 basis points in August, reaching 4.16%. This monthly increase followed July’s 34-bp rise and KBRA reported that the total delinquent and specially serviced loan rate had a smaller 1-bp monthly increase, totaling 6.45%. Nearly $900 million of last month’s $18.1 billion of specially serviced loans were returned to the master servicer or liquidated, which helped keep the overall rate steady compared to last month’s figures.
In August, CMBS loans totaling $1.8 billion were either transferred to special servicing or became newly delinquent with 32% ($603 million) due to imminent or actual maturity default; office properties accounted for 41% ($762 million), retail 26% ($489 million), and mixed use 15% ($284). These latest numbers indicate that CMBS delinquencies have now topped 4%, according to KBRA data analysis findings released this week..
