The delinquency rate for Standard & Poor’s-rated CMBS fell 39 basis points to 7.92% in December.

New delinquencies totaled $1.1 billion during the month compared with $1.8 billion in resolutions.

According to S&P, delinquencies  fell across all of the five major property types month over month. Delinquencies in office properties fell $1.1 billion, in retail the drop was by $7 million; multifamily properties saw rates drop by 256 million; industrial properties fell by $109 million; and delinquencies in lodging fell by $13 million.  

According to Trepp, the average loss severity in Dec. stayed fairly close to the levels see in Nov.

December loss severity came in at 50.36%, up from November’s 48.10% and considerably higher than October's 38.58%.

Liquidation volume registered $1.28 billion in December, up slightly from $1.21 billion in November and in line with the 12-month moving average of $1.18 billion. Of the loans liquidated, 90% fell into the greater than 2% loss severity category.

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