Again, into the fray with office CMBS loans. For good reason, as the industry keeps looking to see what will happen with office property utilization, values, any potential impacts on investors or even other property types. Knowing the status of loans can help identify trends and potential issues.

A number of sources including Moody's Analytics have looked extensively at CMBS office loans. Earlier in June came word of the developing long office loan modifications on class A properties like the Seagram Building at 375 Park Avenue in New York City or how even mixed use is showing up in special servicing now. To many, the latter was supposed to be the solution to office.

May was a big maturity month, and Moody's added into the analytic mix floating rate CMBS office loans with a final maturity in 2023, which came down to four of these loans. There were more than $2.1 billion in maturities, not counting defeased loans. That was almost double everything from January through April. Cumulative payoffs have improved from 30% through April to 40.8%, or $1,344.5 billion paid off during the open period. Another 26.7%, or $881 million, was modified or extended. And then there was 32.4%, or $1,068.5 million, that fell into maturity default.