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Office Loan Delinquencies Hit Five-Year High

Friday, Jun 09 2023
Commercial Lending
Written by  The Mortgage Leader

According to a study from real estate data firm Trepp, more than 4% of office loans bundled into commercial mortgage-backed securities were 30 days overdue or longer in May, the biggest share since 2018. So reports Bloomberg.

arrows 311332 640 smallOverall, delinquencies for loans in commercial real estate securities posted their biggest monthly increase in nearly three years in May, the study shows.

Dan McNamara, founder of Polpo Capital Management, who is short on CMBS backed by office loans, told Bloomberg that “this is just the tip of the iceberg.”

Read the full article from Bloomberg.

 

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