A turbulent 2020 ended with a decline in the special servicing rate in December, the third straight month registering a modest decline.
Overall, the Trepp CMBS Special Servicing rate declined 35 basis points in December, coming in at 9.81%, compared to 10.16% in November.
The decline was driven by a reduction in the lodging CMBS rate, which saw a 149 basis points drop in December. In November, it led a 11 basis points increase. By comparison, the rate came in at 2.27% in March—the month before the pandemic began.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
