CMBS pay-off rate hits post-crisis high in October
The percentage of CMBS loans that were paid off at maturity surged in October, according to Trepp, hitting the highest level since the commercial real estate data provider began tracking the figures, in 2008.
Nearly $245m in loans which weren’t already defeased or distressed reached maturity last month, the highest total since March. More than 94% of the loans were tied CMBS 2.0 and 3.0 deals. Despite the high volume of maturing loans, a record number of them were paid off entirely....
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