The volume of CMBS conduit loans that were liquidated in February fell significantly, dropping 43% from January's reading, according to CMBS data provider Trepp.

In fact, the February reading was the lowest total since November 2010. At $893 million, liquidations were roughly 32% below the 12-month moving average of $1.31 billion per month. Starting in early 2010, the special servicers have been liquidating at a roughly $1.08 billion rate per month, Trepp said.

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