Out front of a 20-basis-point improvement in delinquency on securitized commercial real estate loans were loans that are backed by office buildings.
Servicers of loans that are part of commercial mortgage-backed securities reported a collective 30-day delinquency rate of 4.15 percent as of Feb. 29.
CMBS delinquency receded from the first month of this year, when the 30-day past-due rate was previously reported to be 4.35 percent.
An improvement was additionally made compared to February 2015, a month that saw a CMBS 30-day delinquency rate of 5.58 percent.
Trepp LLC delivered the delinquency data based on CMBS it rates.
The biggest improvement from January 2016 was on CMBS loans secured by office buildings, with the 30-day rate tumbling 26 basis points to 4.98 percent.
A 22-basis-point month-over-month improvement put the 30-day rate on lodging loans at 2.60 percent in February.
Next were securitized retail property loans, with the 30-day rate falling 15 BPS from January to 5.47 percent.
A 10-basis-point improvement was reported for industrial property loans, leaving the delinquency rate at
5.86 percent as of Feb. 29.
The only property type to experience deterioration in delinquency was multifamily, with the 30-day rate rising six BPS from January to 2.37 percent.
