Kroll Bond Rating Agency (KBRA)-rated U.S. CMBS delinquency rate rose sharply in July to 3.93%, a 34-basis point increase from the slight improvement seen in June. The total delinquent and specially serviced loan rate for the $314.8-billion KBRA-rated CMBS universe continued trending upward for the fourth straight month, reaching 6.44% with a 37 basis point monthly increase due to $2,6 billion of loans transferred to special servicing or becoming newly delinquent; slightly more than half of which was attributed to imminent or actual maturity default according to KBRA’s report .
Office properties had highest exposure at 34,7% ($898 million) followed by retail at 26,4% ($683 million) and mixed use at 23,7 %($613 million). Mixed use also posted highest monthly delinquency rate of 6 ,71 % followed by retail 5 ,48 % and office 3 ,79%. Mixed use further saw largest month over month rise in its delinquency rates among all property types mentioned above .
