Industrial Property Delinquencies Reach 22-Year High, S&P Says
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Delinquencies on industrial-property loans that were packaged into commercial mortgage-backed securities rose to a 22-year high amid a decline in rental income from warehouses, Standard & Poor’s said.
The delinquency rate for U.S. industrial CMBS as of Sept. 30 was 12.05 percent, the New York-based rating company said today in a statement. Net operating income has fallen at 47 percent of properties used as collateral for industrial CMBS since the securities were issued, S&P said.