Monthly CMBS Maturity Report November 2013 (October 2013 Remittance)









A nation afraid to let its people judge truth and falsehood

in an open market is a nation afraid of its people.
John F. Kennedy


Overview: As displayed in Table 1 below, 161 performing CMBS loans totaling about $940 million were scheduled to mature in October 20131 . This does not include 15 non-performing loans ($100 million) that were either already specially-serviced or delinquent  as of September 2013, and subsequently scheduled to mature in October 2013. We also excluded floating-rate loans that had  already been extended beyond their final maturity date (but might not have been reflected as such in servicer data). In the final  section of this report, we present our initial findings surrounding scheduled maturities in 2014 and 2015 as an early indicator of upcoming default risk. What happened: The on-time payoff rate for October 2013 remained steady at 73%, unchanged from September, and up slightly from 70% in August. This also marks the twelfth consecutive month in which the on-time payoff rate has remained above 60%, reflecting a continued improvement in CMBS fundamentals and increasing liquidity that we began to see in the closing months of 2012. About 14% of the loans that failed to pay off in October 2013 ($134 million) were reported as delinquent in payment status (with respect to monthly payments), compared with an 18% delinquency rate reported in September and 12% in August 2013. About 13% ($130 million) remained active and reported as current with respect to monthly payments (matured performing, but having passed maturity), compared to 9% a month prior and 18% in August 2013. For comparison purposes, Chart 2 shows the cumulative year-todate 2012 and 2013 maturity status (without regard to post-maturity payoffs). The year-to-date cumulative on-time payoff rate through October 2013 is now 69%. Comparatively, the on-time payoff rate for all of 2012 was only 47%, largely due to a sluggish environment of low CMBS new issuance and decreased re-financing of commercial properties in the first half of the year




CMBS Monthly Maturity Report November 2013 (October 2013 Remittance)





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Facts of Arizona – year 1848 to 2013



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Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.





we are at on the a rise of the cycle in Commercial Real Estate.  so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix.  The prices on deals I may get you will not be around forever.



  We barely could give land away the last few years, but times are changing.  Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.


If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us. 


Please reply by e-mail or call me 520-975-5207 (cell)  602-778-5110 (office direct).




Thank You



Walter Unger CCIM

Associate Broker

Kasten Long Commercial

2821 E. Camelback Road, Suite 600

Phoenix, AZ 85016

Cell:      520-975-5207

Direct:   602-759-1202

Office :  602-445-4141

Fax:      602-445-4188


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