Trepp has pinpointed about $3.9 billion in almost 100 outstanding CMBS loan balances where the borrower has indicated a willingness to turn over the asset to the lender.

Trepp's research supports the now widespread notion that waves of distress could be coming in hospitality and retail. Trepp highlighted some regional malls, including Westfield Citrus Park in Tampa ($126.4 million current loan balance), Westfield Countryside in Clearwater, Fla. ($95.9 million current loan balance), and Florence Mall in Florence, Ky. ($90.0 million) in trouble. It also listed problem loans with a Sheraton Suites Houston in Houston and the Trumbull Marriott in Trumbull, Conn. ($20.9 million).

A large cluster of problem loans are located between Philadelphia and New York, according to Trepp. Regional malls represent more than one-quarter (26.%) of the loans where borrowers could potentially hand the keys back to lenders. Limited-service and full-business service hotels each represented 18.09 of those loans. They were followed by community shopping centers (8.51%) and extended stay hotels (6.38%).