The trend of higher delinquency rates for commercial properties continued its storied climb this month, for the fifth month in a row, finishing at 6% last month. Hotels continue to be the hardest hit, with Extended Stay America now delinquent on a large loan and contributing greatly to the 129 basis-point increase.
Most analysts predict the increase will continue in the coming months. The delinquency rates compared to last month’s number are below:
Property Type This Month January 2010
Hotel 16.44% 9.13%
Multifamily 8.33% 7.54%
Retail 4.94% 4.25%
Industrial 3.73% 3.57%
Office 3.06% 2.66%
source: CoStar
