Some of the first defaults have emerged on commercial mortgages securitized since the financial crisis, and they are primarily loans on multifamily properties.

Nine loans totaling $74.9 million defaulted last year on CMBS deals issued between 2010 and 2013. Seven loans comprising 76% of total CMBS 2.0 defaults were secured by multifamily properties, according to a Fitch Ratings report.

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