The Trepp CMBS Delinquency rate inched up in February 2024. Overall, the delinquency rate rose 5 basis points to 4.71 percent.
In the heavily watched office segment, delinquencies jumped 33 basis points to 6.63 percent. The month-over-month increase in February is roughly in line with the average monthly increase for the sector over the prior 12 months, increasing by 37 basis points per month on average.
The retail segment notched the largest decline of all property sectors for the month, dropping 24 basis points to 6.03 percent.
If we included loans that are beyond their maturity date but current on interest, the delinquency rate would be 5.69 percent, up seven basis points from January.
The percentage of loans in the 30 days delinquent bucket is 0.30 percent, up six basis points for the month.
Our numbers assume defeased loans are still part of the denominator unless otherwise specified.
—Posted on March 28, 2024
