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| Manus Clancy |
NEW YORK, NY --Trepp, LLC, the leading provider of
information, analytics and technology to the CMBS, commercial real estate, and banking
markets, released its December 2013 US CMBS Delinquency Report (available at http://www.trepp.com/knowledge/research
).
The Trepp CMBS delinquency rate continued to drop in
December, which marked the seventh consecutive month of improvement. With a
rate decrease of 23 basis points over the course of the month, the delinquency
rate for US commercial real estate loans in CMBS is now 7.43%. The rate is 228
basis points better than the 2012 year-end delinquency rate.
“Investors had a lot to worry about in 2013,” said Manus
Clancy, Senior Managing Director at Trepp.
“Concerns included rising interest rates, the tapering of
QE3, Cyprus, Syria, government shutdowns, and the debt ceiling. Despite all the
potential speed bumps, CMBS new issuance was terrific, CMBS delinquency rates
continued to plunge, and commercial real estate values remained firm. The
results should give investors a lot of confidence going into 2014.”
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Contributing to the improvement in delinquencies in
December was about $1.3 billion in previously delinquent loans that were
resolved with losses. Loans that cured totaled about $1.6 billion, which put
downward pressure on the rate, but $1.6 billion in new delinquencies negated
that improvement.
For a complete copy of the company’s news release, please
contact:
Joe McBride, Research Analyst
Trepp LLC
212-754-1010
Eric Gerard, Lindsay Church
Great Ink Communications
212-741-2977
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