CRED iQ sourced and analyzed interest rate cap agreements for nearly 700 floating-rate loans that have been securitized in CRE CLOs (Commercial Real Estate Collateralized Loan Obligations). Interest rate cap agreements included in the analysis covered more than $30 billion in aggregate notional balance. The analysis was completed in response to an environment conditioned by rising interest rates, and...
CMBS transactions incurred approximately $129 million in realized losses during February 2023 via the workout of distressed assets. CRED iQ identified 17 workouts classified as dispositions, liquidations, or discounted payoffs in February 2023. Of the 17 workouts, six were resolved without a loss. Of the 11 workouts resulting in losses, severities for the month of February ranged from 1%...
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CRE CLO Interest Rate Cap Agreements: Risks and Opportunities
CRED iQ sourced and analyzed interest rate cap agreements for nearly 700 floating-rate loans that have been securitized in CRE CLOs (Commercial Real Estate...
Distressed Workouts and Payoffs – February 2023
CMBS transactions incurred approximately $129 million in realized losses during February 2023 via the workout of distressed assets. CRED iQ identified 17 workouts classified...
Commercial Real Estate Market Delinquency Tracker – February 2023
CRED iQ monitors distressed rates and market performance for nearly 400 MSAs across the United States, covering over $900 billion in outstanding commercial real...
February 2023 Delinquency Report
The CRED iQ delinquency rate for CMBS for the month of February 2023 increased to 3.58%. The delinquency rate was 33 basis points higher...
Multifamily Distress and the New York MSA
A point of interest among multifamily investors reviewing February 2023 reporting data for CMBS securitizations was the special servicing transfer of a $270.3 million...
