European CMBS had a bad start to 2013 with January recording the highest number of loan maturities ever, in a single month, according to Standard & Poor’s.

Of the 53 loans scheduled to mature in January, about 80% were originated in the U.K. or Germany. Thirty-eight of these loans (approximately 72%) failed to meet their maturity obligations, leaving an aggregate euro equivalent balance of €2.50 billion ($3.2 billion) unpaid from a total of €3.49 billon due to mature, said S&P in a report today.

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