Marc McDevitt

Finance  ·  CMBS
National

Office Lease Expirations Hamper CMBS Loans

By Marc McDevitt
The largest distressed workout featuring a lodging property in April was the discounted payoff of the 241-room Marriott Saddle Brook in northern New Jersey.
Finance  ·  CMBS
National

CMBS Realized Losses Climb Higher in April

By Marc McDevitt
Jacksonville, Fla. saw a two percent increased commercial real estate distressed rate in April.
Finance  ·  CMBS
National

CRE Distress Rose in Majority of 50 Largest MSAs in April

By Marc McDevitt
An $84.5 million mortgage secured by The Wanamaker Building was one of the office loans to transfer to special servicing in April.
Finance  ·  CMBS
National

CMBS Delinquencies Climbed Once Again in April

By Marc McDevitt
A $982 million mortgage secured by 34 Ashford Hospitality Trust hotels, which includes the Marriott Beverly Hills (pictured) transferred to special servicing due to maturity default ahead of the loan’s June maturity date.
Finance  ·  CMBS
National

CMBS Loan Maturity Defaults, Concerns on the Rise

By Marc McDevitt
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Among the largest mortgages paid off in March was a $560 million loan secured by 59 La Quinta Inn select-service hotels.
Finance  ·  CMBS
National

CMBS Realized Losses Dip in March as Loan Workouts Continue

By Marc McDevitt
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Cleveland had the second highest distressed rate for CMBS loans in March at 10.2 percent.
Finance  ·  CMBS
National

Largest MSAs Saw Uptick in CRE Distress Last Month

By Marc McDevitt
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One of March's newly delinquent office loans was a $350 million floating-rate mortgage secured by the Gas Company Tower in Los Angeles (pictured).
Finance  ·  CMBS
National

CMBS Delinquency Rate Increases in March

By Marc McDevitt
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Construction work on a new apartment building continues on February 28, 2023. Multifamily properties accounted for most of the loan collateral composition by property type in CRED iQ's interest rate cap analysis.
Finance  ·  CMBS
National

CRE CLO Interest Rate Cap Agreements Take Spotlight

By Marc McDevitt
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The second largest individual CMBS loan payoff in February was a $345 million senior mortgage secured by the Rio All-Suite Hotel and Casino in Las Vegas (pictured).
Finance  ·  CMBS
National

February CMBS Realized Losses Soar Despite Fewer Workouts

By Marc McDevitt
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Birmingham, Alab. had an 11.4 percent commercial real estate distressed rate in February.
Finance
National

CRE Distress Mounts in Largest MSAs

By Marc McDevitt
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375 Pearl Street.
Finance  ·  CMBS
National

CMBS Delinquencies Jump in February

By Marc McDevitt
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Manhattan skyline
Finance  ·  CMBS
New York City

Distress Rate in NYC Multifamily CMBS Set to Rise

By Marc McDevitt
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Among the largest individual payoffs in January was a $237.4 million mortgage secured by the Green Acres Mall in Valley Stream, N.Y.  
Finance  ·  CMBS
National

CMBS-Realized Losses Dip in January Despite More Distressed Workouts

By Marc McDevitt
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The Minneapolis MSA has the highest overall distressed rate in January at 20.4 percent, which was slightly higher than the previous month.
Finance  ·  CMBS
National

Majority of Largest MSAs See Dip in Monthly CRE Distress

By Marc McDevitt
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One of the largest loans to become delinquent in January 2023 was a $120 million mortgage secured by Charlotte Plaza, a 632,283-square-foot office tower in Charlotte, N.C
Finance  ·  CMBS
National

CMBS Delinquency Rate Drops in January

By Marc McDevitt
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New York City has the highest amount of maturing debt multifamily debt among commercial real estate CLOs.
Finance
National

2023 Is a Significant Year for CMBS Multifamily Maturities

By Marc McDevitt
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