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CRE CLO Distress Rate Eases in October
CRED iQ said the commercial real estate collateralized loan obligation (CRE CLO) distressed rate notched its second consecutive reduction in October, reaching the lowest mark of 2025 to end the month at 10.7%. Simultaneously, the CRE CLO delinquency rate declined 76 basis points to 8.5% in October; it had gone as high as 12.2% in February.
That said, CRED iQ noted that the CRE CLO special servicing rate rose slightly to 7.3%. Meanwhile, loans that have passed their maturity dates grew, with non-performing matured loans adding 720 bps to reach 43.0%. That’s slightly higher than the total of CRE CLO loans that are either current or performing matured. Thirteen percent of CRE CLO loans are at least 30 days past due.
CRE CLO issuance year-to-date as of November 2025 totals $25 billion, which compares to $8.7 billion in the year-ago period, according to CRED iQ.
- ◦Financing
