National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CMBS Loan Losses Increase in September
Trepp reported an increase in CMBS loan losses for September, when $252.5 million across 15 loans were resolved with $139.5 million in losses total, carrying an average loss severity of 55.26% for the month. That compared to $47.2 million of loan losses in August.
The 12-month average disposed balance moved to $266.3 million, down from the $277.7 million that was seen last month, while the 12-month moving average loss severity stood at 63.54% in September, slightly up from the 63.28% seen in the prior month.
The average loss severity for loans resolved in September with losses greater than 2% increased to 58.75%, up from 55.20% in August, according to Trepp. The running average loss severity for losses greater than 2% for the last 12 months was 65.97%, up slightly from the 12-month moving average in August.
