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National  + Finance  |  March 9, 2021
Macklowe Properties is seeking at least $1.1 billion in financing for One Wall Street, according to Bloomberg News
Paul Bubny
By: Paul Bubny

Commercial Mortgage Performance Improves for Second Straight Month

The Mortgage Bankers Association said delinquency rates for mortgages backed by commercial and multifamily properties decreased in February, as the COVID-19 pandemic’s impact on commercial and multifamily mortgage performance continues to vary by the different types of commercial real estate.

The summary of findings come from MBA’s February Commercial Real Estate Finance (CREF) Loan Performance Survey, and the association’s latest Commercial/Multifamily Delinquency Report for the fourth quarter of 2020.

“After a slight deterioration at the end of 2020, commercial and multifamily mortgage performance improved for the second straight month in February, bringing delinquency rates down to the lowest level since April 2020,” said Jamie Woodwell, MBA’s VP of commercial real estate research. 

“Lodging and retail property loans continue to show the greatest stress, but the shares of outstanding loan balances that are delinquent have fallen from their peak levels by 25% and 28%, respectively,” he added.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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