Chicago had the highest distress or delinquency rate in the nation for CMBS loans as of August among the top 20 US metros, according to a report from ratings agency Kroll Bond Rating Agency (KBRA).
The Windy City led all metros with an overall distress rate of 22% in CMBS 2.0 loans. CMBS 2.0 is the designation for the post-GFC series of commercial mortgage-backed securities.
Chicago's distress rate is nearly three times the average of 7.2% for top 20 metros, and almost double the 12.5% rate KBRA reported for Chicago in June 2022.
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