August has been an interesting month for CMBS losses, according to Trepp. There was a decrease in loan losses from $119.0 million in July to $47.2 million in August. The latter was across $85.6 million and nine loans for an average loss severity of 55.20%. Over the last 12 months, August 2024 had the second-lowest losses incurred, with only November 2023 being lower at $36.4 million.
The 12-month average disposed balance went from $305.5 million in July to $277.7 million in August. The 12-month disposed loan count was 129 and the loan amount was $3.33 billion. Incurred losses were $2.108 billion with a loss severity of 63.28%.
The five largest loan losses in August were the Mall de las Aguilas, Washington Square, Loyalty and Hamilton, Glenwood Farms, and Bella of Baton Rouge.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
