“Give a man a match, and he’ll be warm for a minute, but set him on fire, and he’ll be warm for the rest of his life. “
Executive Summary
Our review of the March remittance data resulted in a continuation of the decline in overall delinquent unpaid balance, or UPB, as well as the overall delinquency rate. The delinquent UPB for loans packaged in commercial mortgage-backed securities, or CMBS, dipped almost 2% to $29.55 billion in March from $30.12 billion in February, its lowest level in more than five years. The delinquency rate also hit a multiyear low at 3.77%, down nine basis points from February. Year-over-year, the delinquent UPB dropped 16.9%, while the delinquency rate improved from 4.77%. The delinquent UPB has now fallen for 33 of the past 39 monthly remittance periods and in nine of the trailing 12 months. By vintage, deals issued from 2005 through 2007 remain a significant portion of overall delinquency, at $25.61 billion by UPB and 86.7% of total delinquency. Liquidations for March, at $863.1 million across 53 loans, experienced an average loss severity of 38.1%, down from $642.3 million across 51 loans, which experienced an average loss severity of only 27% in the prior month. By property type, loans backed by office collateral accounted for $9.17 billion, or 31.1% of the total delinquency, while by state, New York continues to have the highest delinquency exposure at $4.68 billion
See it All Below: Pdf
Morningstar CMBS Surveillance – Delinquency Report_March 2015 Remittance
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1
Timeline of Phoenix, Arizona history
http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history
2
http://en.wikipedia.org/wiki/Phoenix,_Arizona
3
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 20 years. I am also a commercial land specialist in Phoenix and a Landspecialist in Arizona. 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 with you. I am also in this to make money therefore it will be a win-win situation for all of us.
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Walter Unger CCIM
Associate Broker, West USA Commercial Real Estate Advisers
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