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CMBS Payoffs Rise in July; Retail Losses Up

With five months to go in 2017, the wave of maturities for CMBS coming due this year has ebbed to a little more than 25% of the total.

By Paul Bubny | paulbubny | Updated on August 14, 2017

Building exterior in Lower Manhattan S&P headquarters in Lower Manhattan

NEW YORK CITY—The once-ballyhooed, and dreaded, wall of CMBS maturities is continuing to crumble with less incident than originally expected. S&P Global Ratings said Friday that payoff rates were up in July, and August may continue in the same vein.

July payoffs reached 71% of maturities, starting the third quarter higher than the year-to-date average of 70.7% for the first six months, according to S&P. The month’s payoff rate was second in 2017 only to the 74.8% reached in January.

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