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Investments / The Ticker

Delinquencies for CDOs tied to commercial real estate drop

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Late pays on commercial real estate loans tied to collateralized debt obligations fell below 12% for the first time since last year, Fitch Ratings said Friday.

Multifamily loans tied to CDOs have an 8% delinquency rate and represent 14% of all the collateral linked to the CREL CDO loans studied. 

The index that Fitch evaluated shows only two new delinquencies were added in August. The largest delinquency was on an office portfolio located in Southern California.

Land delinquencies led the pack with a 38% delinquency rate. Construction loans and hotel loans followed with delinquency rates of 19% and 16%, respectively.

The residential sector fared somewhat better with multifamily properties representing 8% of all delinquencies.

Condos also made up 4% of the late payments.

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