Subject: CMBS - non-deal specific (CMBS-G)
Office Weakness Hits CMBS Delinquency Hard in May
The volume of CMBS office loans classified as being more than 30 days late skyrocketed by nearly 45 percent last month to $6.75 billion, propelling the overall volume of delinquency to $22.37 billion, or 3.63 percent of the CMBS universe ...
Higher Rates Squeeze Large Financing Package Against D.C.-Area Offices
The venture that owns a portfolio of seven office buildings with 2.13 million square feet in the Washington, D.C., suburb of Arlington, Va., is unlikely to refinance the $841 million of indebtedness against the properties when it matures in the ...
Uber Offering 268,500 SF of Office Space for Sublease in San Francisco
The Real Deal Uber is offering for sublease Chase Center Tower II, a 268,500-square-foot office property in San Francisco. The rideshare company in 2019 started paying $85/sf for space at the building, but never moved in as it was having ...
Leasing Activity in Manhattan Affecting Big Office Loans
Leasing activity in the Manhattan office market totaled 7.36 million square feet in the first quarter, nearly 10 percent less than the 10-year quarterly average of a little more than 8 million sf, according to Colliers. The lackluster leasing is ...
Kroll Puts 11 CMBS Conduit Deals on Watch Because of Exposure to Weak Office Properties
Commercial Real Estate Direct Staff Report Kroll Bond Rating Agency has placed bonds from 11 CMBS conduit transactions on watch for possible downgrade because of their exposure to underperforming office properties. The 11 deals were issued between 2013 and 2016. ...
Washington, D.C.’s Office Availability Rate Increases, Even as Inventory Declines
The Washington, D.C., office market had an availability rate of 21.7 percent in the first quarter - a record high - according to Savills. Meanwhile, its office inventory fell to 122.1 million sf from 124 million sf at the same ...
CMBS Delinquency Volume, Rate Essentially Flat in April
Commercial Real Estate Direct Staff Report CMBS delinquencies inched up in April to $19.1 billion from $19.07 billion, leaving the delinquency rate unchanged at 3.09 percent, according to Trepp Inc. The small increase in delinquency was offset by a rise ...
Large Loan on Suburban Office/Flex Portfolio Goes to Special Servicing as Maturity Nears
Commercial Real Estate Direct Staff Report The $1.27 billion of financing against a portfolio of 146 office, flex and retail properties in Arizona, Florida, Minnesota and Pennsylvania owned by Workspace Property Trust has transferred to special servicing because it's expected ...
CMBS Special Servicing Volume Continued Uptick in April, Despite Heavy Resolution Activity
Last month, CMBS special servicers had resolved 43 troubled loans with a balance of $2.23 billion. But that wasn't enough to offset the addition of 42 loans with a balance of $2.75 billion to the special servicing rolls. So, overall ...
Office Loan Spreads Widened During 1Q
Commercial Real Estate Direct Staff Report Lenders widened the spreads, or risk premiums, on their office loans during the first quarter by more than 10 basis points, according to the Trepp-i survey. But for other property types, spreads remained relatively ...
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