November's commercial mortgage-backed securities (CMBS) delinquency rates rose to 8.81% after dropping in October, according to a report from Investcap Advisors. The rise reversed due to an "anomaly" in October where a large hotel portfolio was resolved. Fewer commercial loans entered special servicing in November compared to the previous month. Overall delinquencies continued to be driven by high concentrations in the multi-family, office, and retail sectors, with lodging and multi-family seeing the highest delinquency ratios at 15.2% and 14.1%, respectively. Economic uncertainty may cause continued volatility in CMBS delinquency data in the coming months.

1. December 15, 2010 12:45 PM Eastern Time
Investcap Advisors Releases New Commercial Property Delinquency Data for November
2010
WALTHAM, Mass.--(BUSINESS WIRE)--Investcap Advisors, LLC, a leading provider of surveillance data on commercial loan
and real estate performance, released their November data on CMBS delinquencies.
November’s CMBS delinquency rates climbed again after dropping dramatically in October.
“October’s lower activity
The November rate reached 8.81%, a .31% rise over October’s rate. “October’s lower activity
was driven primarily by a resolution to the large Extended Stay portfolio, which we consider was driven primarily by a
an anomaly,” states Scott Barrie, managing director of Investcap Advisors. Fewer commercial resolution to the large
loans were being transferred to special servicers in November, culminating in a 16.7 %
decrease over prior month activity.
Extended Stay portfolio,
which we consider an
The rise of over $2 billion in overall delinquencies continues to be driven by high anomaly”
concentrations in the multi-family, office and retail sectors. The 12 month CBMS delinquency
ratios are again led by lodging at 15.2% and multi-family at 14.1%. The remaining core property type delinquency ratios are
retail 7.5%, office 6.8% and industrial 6.2%. “We can expect to see continued volatility in the data in coming months as future
economic conditions remain uncertain,” explains Barrie. The Investcap Advisors CMBS delinquency report is released monthly
and created from data on over $695 billion in CMBS loans.
About Investcap Advisors, LLC
Investcap Advisors LLC is a leader in providing market intelligence data and analysis on loans and properties underlying the
Commercial Mortgage Backed Securities (CMBS) universe. Using proprietary web-based platforms, LoanAdvisor and
CREDataXpress, Investcap Advisors provides customers with scalable solutions for valuable insight on commercial loans and
their underlying properties.
Contacts
Investcap Advisors, LLC
Tom Brubaker, 800-667-6007 ext. 203