U.S. CMBS delinquencies rose by four basis points to 0.39% in May, with half of the increase in the Loan Delinquency Index resulting from one large nonperforming matured healthcare loan, according to a Fitch Ratings release out today. 

Without the healthcare loan, the index would have only risen by two basis points to 0.37%.

Most sectors finished with slightly higher delinquencies last month, with healthcare recording the largest increase.  Delinquencies in multifamily  increased as well, and has an additional $447.9 million in newly delinquent loans, according to CMBS group head Susan Merrick.

The newly delinquent health care portfolio resulted in this sector¬ís lead in the index in terms of property type.  When compared with the total number of Fitch-rated healthcare transactions, these delinquent loans represent 4.62% of healthcare issuance. 

The multifamily sector followed with delinquencies at 1.74% of the multifamily universe.  Retail ended the month with a $26.4 million decrease in delinquencies and an index of 0.17%. Office delinquencies increased $20.1 million, ending with an index of 0.14%.

Texas continues to lead delinquencies, with 23.2% of delinquent loans. The total amount of Texas loans in the Fitch universe is 1.56%.  Florida follows Texas with 9.54% of the total, and an index of 0.65% when compared with the total issuance in the state.

The seasoned delinquency index rose by five basis points in May, ending with 0.46%.  Five transactions totaling $5.3 billion, none of which had delinquent loans, became newly seasoned.


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