Markets continued to face trouble in Q1, with CMBS delinquency volumes increasing by 2.46% and special servicing volumes also increasing by 6.58%. CRE lending spreads also tightened in Q1 2024 across all property types, with the retail sector seeing the biggest tightening. New supply pressures are impacting rents and we’re starting to see stress in recent vintage multifamily.
“Looking at the data, we can see how some apartment properties, particularly in the Sunbelt region, that were financed while interest rates were extremely low might face challenges getting refinanced,” said Orest Mandzy, Managing Editor of CRE Direct. “But the office sector remains CRE’s biggest worry. That is what’s driving CMBS delinquency and special servicing rates.”
The magazine explores the evolving CRE market, analyzing tightening lending spreads, skyrocketing CMBS issuance, rising delinquency and special servicing volumes, and much more.
Access The Q1 2024 QDR Magazine here: https://www.trepp.com/q1-2024-quarterly-data-review
For more information on the QDR Magazine or any of the analyses, email [email protected] or visit https://www.Trepp.com. Follow @TreppWire and @crenewstweets on Twitter for daily CRE and CMBS market updates.
About Trepp
Trepp, founded in 1979, is the leading provider of data, insights, and technology solutions to the structured finance, commercial real estate, and banking markets. Trepp provides primary and secondary market participants with the solutions and analytics they need to increase operational efficiencies, information transparency, and investment performance. From its offices in New York, Dallas, and London, Trepp serves its clients with products and services to support trading, research, risk management, surveillance, and portfolio management. Trepp subsidiary, Commercial Real Estate Direct, is a daily news source covering the commercial real estate capital markets. Trepp is owned by the Daily Mail and General Trust (DMGT).
About Commercial Real Estate Direct
Commercial Real Estate Direct, founded in 1999 and a subsidiary of Trepp, is a daily news source covering the commercial real estate capital markets. Each day, its seasoned staff of editors and real estate journalists delivers up-to-date market intelligence on the mortgage business, equity raising, investment sales, and CMBS. CRE Direct also provides its readers with actionable data through its Property Sales Database, which details more than 25,500 large property transactions, CMBS Pricing Matrix, the industry’s only weekly pricing survey, and the CMBS Pipeline, a calendar of upcoming transactions with historical pricing information.
Media Contact
Ennys Soydas, Trepp, Inc., 2127541010, [email protected], www.trepp.com
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