The rate of late payments on securitized commercial real estate loans declined last month, though there was deterioration on apartment and retail property loans.
On loans that are part of commercial mortgage-backed securities, the rate of 60-day delinquency came to 5.74 percent as of Feb. 28.
CMBS loan performance has improved compared to one month earlier, when the 60-day rate worked out to 5.81 percent.
The statistics were reported Friday by Moody’s Investors Service.
The improvement in performance was “due largely to the resolution of delinquent loans from the 2007 vintage,” the New York-based ratings agency said.
Delinquency declined for CMBS loans secured by industrial properties, hotels and office buildings.
While the 60-day rate on multifamily loans increased 8 basis points from January to 2.11 percent, it was still the lowest rate of any property type.
Delinquency on retail property loans climbed 7 BPS last month to 7.83 percent — the highest rate of any property type.
