NREI spoke with Lisa Pendergast, executive director at CREFC, about how this cycle might look compared to the Great Recession.
Some property sectors and investor segments may be well-positioned even in a pandemic. Others may be looking at an abyss.
Delinquencies will rise, but not right away. Special servicers and master servicers will be busy in the coming months.
Most property sectors either posted delinquency declines or single-digit upticks. That might change in the coming month.
Several factors that helped to lift CMBS issuance volume in 2019 are still in play for 2020.
CMBS delinquencies reached the lowest level since before the financial crisis in December. Expect that trend to hold.
Trepp, Fitch Ratings measured declines in CMBS delinquency rates in the past month.