NEW YORK, NY -- After two months of elevated volume, April
was relatively quiet on the CMBS loan liquidation front.
Another block of assets are up for auction in May and June,
but April seemed to be a breather for special servicers. Volume reached $844.16
million in April, less than half of March’s $1.95 billion. Of the loans that
were liquidated, 67% (by balance) fell into the greater than 2% loss severity
category.
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April loss severity came in at 39.77%, down from March’s
52.49% and well below the 12-month moving average of 47.57%.
The number of
loans liquidated in April was 63, resulting in $335.75 million in losses. The
average disposed balance in April was $13.40 million—just under the 12-month
average of $14.37 million.
Since January 2010, servicers have been liquidating at an
average rate of $1.21 billion per month.
For a complete copy of the company’s news release, please
contact:
Eric Gerard
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