Late payments on securitized commercial real estate loans tumbled last month, and the rate on just industrial property loans saw a spectacular decline.
The 30-day delinquency rate on loans that are part of commercial mortgage-backed securities finished September at 5.28 percent.
Trepp LLC reported the performance data based on CMBS that it rates.
The latest delinquency rate was a 17-basis-point improvement over the previous month.
Compared to the same month last year, the 30-day rate on CMBS loans has fallen 75 BPS.
CRE loan servicers made the biggest improvement on CMBS loans secured by industrial properties, with the rate plummeting 144 BPS from August to 6.18 percent.
Thirty-day delinquency on securitized multifamily loans sank 79 BPS to 8.20 percent.
After that were lodging loans, with the 30-day rate in this category declining 16 BPS to 3.28 percent in September.
The rate on office property CMBS loans was next, falling five BPS from August to 5.81 percent.
Retail property loan delinquency was the only category to deteriorate, climbing 20 BPS from the previous month to 5.73 percent as of September.
