Trepp: Lodging Delinquency Rate Grows To 14%

Posted by Orb Staff on December 02, 2009 No Comments
Categories : Commercial Mortgage

The percentage of securitized commercial mortgages that are delinquent grew from 4.8% in October to 5.65% at the end of November, according to the December delinquenccy report from Trepp.

By sector, the delinquency rate was highest for lodging – 14.09%. Most of November's jump was caused by an Extended Stay Hotel (ESH) loan that Trepp says resulted in about 56% of the month's increase. Excluding the ESH loan, the sector's delinquency rate was approximately 9%. In October, Trepp tracked the sector's delinquency rate at 8.67%.

The multifamily delinquency rate jumped 112 basis points (bps) to 8.78%, retail grew 25 bps to 4.78%, industrial was up 15 bps to 3.33% and office was up 6 bps to 3.14%.

SOURCE: Trepp

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