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Troubled commercial loan volume shrinks

by thiryj

CRE news reports – The volume of loans in special servicing fell in July, for the first time in more than two years, to $88B from $88.4B in June, according to Realpoint.

But because the overall CMBS universe shrunk, the percentage of loans that are in special servicing grew to 12.75% of the universe from 12.69% in June.

A net total of 113 loans with a balance of $348.3M were removed from the special servicing rolls in July, leaving 4,585 loans in the hands of the 19 companies that specialize in working out troubled CMBS loans. While some loans were transferred to special servicing, a larger amount were resolved or worked out and transferred back to master servicing.

To read the entire article, click here.

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