National distressed commercial real estate totaled $97.4 billion in early June, including foreclosures, lender-owned properties and those headed in that direction, according to a new report from Delta Associates.
Distressed commercial real estate volume has doubled every three months since December 2008 with retail properties representing the largest segment in June, at $29.7 billion.
Commercial mortgages had a 3.2 percent delinquency rate in the first quarter, up from 1.8 percent in the first quarter of 2008.
Delta says mortgage maturities will also peak at more than $300 billion per year in 2012 and 2013.
The Alexandria, Va.-based firm also reported that the 12-month trailing delinquent unpaid balance of commercial mortgage backed securities rose by $12.5 billion to $17.1 billion in February.
Source: Denver Business Journal June 2009
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