The Trepp CMBS special servicing rate increased by 34 basis points in June to 11.20%, reversing May’s decline. Special servicing rates increased in four of the six major property types in June, reported Trepp.
Lodging posted the largest increase, rising 44 bps to 8.89%, and office climbed 36 bps to 17.11%, also led by several large transfers. Mixed-use rose 28 bps to 11.90%, and industrial edged up nine bps to 1.37%
Multifamily posted the biggest improvement, falling 27 bps to 8.23%, aided by the large Yorkshire & Lexington Towers loan return. Retail edged down five bps to 12.95%…