The industry's own research.
251 reports
showing 61–120 of 251
Federal Reserve survey data tracking the net percentage of domestic banks reporting tightened lending standards for commercial real estate loans on nonresidential structures.
This is a market report published by Knight Frank in October 2025 covering real estate credit and debt financing in the Asia-Pacific region, with focus on commercial mortgage-backed securities activity.
For much of the past two years, loan extensions and maturity modifications have limited forced sales across commercial real estate by deferring pricing decisions amid volatile rates and uneven fundamentals. However, this strategy is increasingly reaching its limits as higher for longer borrowing costs and slower…
Office remains the primary source of stress within the CMBS market, even as delinquency rates eased modestly from recent highs. According to Trepp, the office CMBS delinquency rate stood at 11.71% in March 2026, down from the 12.34% peak reached in January, but still well above prior cycle highs and firmly within…
Securitized Agency loan performance improved modestly in May 2026. The total Agency delinquency rate declined to 0.47%, holding near the low end of the narrow range that has prevailed since mid ‑ 2025, as shown in Figure 1. As in prior months, aggregate movement reflects program ‑ level composition effects rather…
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Florida’s unemployment rate rose to 4.8% in May, up from 3.7% a year earlier, one of the largest increases of any state and the highest Florida reading in nearly five years. The rate has continued to climb and now sits above the national unemployment rate of 4.3%.
Analysis of 2025 commercial real estate investment volumes, cross-border capital flows, regional trends and sector performance from Colliers Capital Markets.
Green Street identifies ten key investment themes shaping commercial real estate opportunities and strategy in the year ahead.
Disclaimer: This is an excerpt from Trepp's "Is It Time to Proclaim San Francisco Is Back?" paper. Click here to access it . After five years of headlines declaring San Francisco commercial real estate uninvestable, the narrative is beginning to shift. Leasing activity is accelerating, institutional capital is…
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Office performance is increasingly separating along asset quality, market depth, and access to capital. Commercial mortgage-backed securities (CMBS) data shows a market that is no longer moving as one, with high-quality, well-located assets continuing to attract tenants and financing while weaker buildings face…
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Disclaimer: This is an excerpt from Trepp's June 2026 CMBS Special Servicing Report. To access the full report, click here. The Trepp commercial mortgage-backed securities (CMBS) special servicing rate increased by 34 basis points in June to 11.20%, reversing May's decline. Across property types, special servicing…
Last week, the June Federal Open Market Committee minutes explained the hawkish hold, with inflation still the committee's dominant concern, while the consumer credit report showed card balances fell in May after two months of heavy borrowing. Here are three things to watch for this week.
Bank multifamily loan delinquencies at FDIC-insured institutions rose to 1.47% in Q1 2026, up 5 basis points from 1.42% at year-end 2025, with delinquent balances reaching $9.78 billion despite continued portfolio expansion to $665.3 billion. The analysis finds that seriously delinquent loans (90+ days past due or nonaccrual) increased to 1.07%, while the net charge-off rate remained low at 0.11% annualized, suggesting banks are resolving troubled credit through extensions and workouts rather than write-downs.
Depending on your perspective, you may call it back-leverage or you may call it ‘loan-on-loan’ financing. Either way, loan-on-loan financing enables a fund to achieve higher leveraged returns while being an attractive risk-adjusted, capital-efficient way for a bank to lend. This primer is designed to explain how…
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Self-storage commercial mortgage-backed securities (CMBS) remains one of the cleaner credit stories in commercial real estate, but the sector is sending a more nuanced signal than the headline delinquency rate suggests. While delinquency remains just 0.05%, nearly 30% of the outstanding balance is now on the…
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Disclaimer: This is an excerpt from Trepp's "The Midwest Multifamily Investment Mirage" paper. Click here to access it . The Sunbelt has become the market everyone loves to hate. Oversupply, concessions, elevated vacancies, and slowing r ent growth have pushed many investors toward a new narrative: that the Midwest…
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The artificial intelligence (AI) buildout is not lifting all commercial real estate equally; instead, it is creating a more concentrated market in which capital is increasingly flowing toward data center collateral, while office leasing benefits are accruing to a narrower set of markets and assets. For commercial…
KBRA research examining CMBS loan performance metrics and trends for the specified period.
KBRA analysis of commercial mortgage-backed securities loan performance metrics and trends.
Morningstar DBRS examines geopolitical and terrorism risk exposure in global data center infrastructure and its impact on structured finance deals and credit performance.
Morningstar DBRS presents forward-looking credit forecasts spanning multiple sectors and geographic regions for 2026.
Analysis of VAT treatment and implications for servicing fees in European securitised assets following recent EU General Court ruling.
The Trepp CMBS Delinquency Rate decreased by 20 basis points to 7.35% in June 2026, led by a large lodging cure. The five largest newly delinquent loans accounted for $998.9 million of the $2.64 billion in newly delinquent loans, including a super-regional mall in Southern California, a regional mall in New…
Thursday's June jobs report added far fewer positions than expected, and the unemployment rate fell only because the labor force shrank. The report pushed back market pricing for a hike this year, a shift that will test how much weight the Federal Open Market Committee's (FOMC's) hawkish June signals still carry.…
PGIM Real Estate provides an outlook on securitized real estate products for the first quarter of 2025.
PGIM Real Estate provides market outlook and analysis on securitized real estate products for the third quarter.
Moody's CRE Analytics examines commercial real estate sector challenges and outlook through 2026.
Moody's CRE Analytics tracks troubled commercial mortgage-backed securities loans, reporting improved conditions in early 2025 following stress in 2024.
Moody's CRE Analytics examines office loan maturity trends and upcoming refinancing challenges in the commercial real estate market.
Trepp's article curates five research pieces on commercial real estate finance topics relevant to mid-2026, highlighting studies on CMBS issuance, CRE CLO market recovery, office delinquency rates, bank CRE risk assessment, and hard maturity refinancing challenges. The article reports that CRE CLO issuance reached $11.2 billion by early March 2026 (up 34% year-over-year), office CMBS delinquencies hit 12.34% in January 2026, and $76.6 billion in CMBS loans faced hard maturity in 2026 with 36% carrying debt yields at or below 8%.
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Trepp analyzed private-label CMBS exposure across metropolitan areas tied to the original thirteen colonies, finding that New York remains dominant while southern colonies like Georgia and North Carolina have become stronger securitization markets due to multifamily and industrial growth, whereas legacy northeastern markets including Philadelphia and Baltimore face elevated office-related stress. The analysis examined three historic properties currently in CMBS deals: Hotel del Coronado performing strongly with a 57% LTV, 55 Wall Street on the watchlist due to cash flow reporting discrepancies despite full occupancy, and Historic Inns of Annapolis in special servicing with 88% LTV and declining occupancy metrics.
NCREIF publishes quarterly performance data and metrics for the Moderate Yield Debt Index tracking commercial real estate debt returns.
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The Trepp commercial mortgage-backed securities delinquency rate decreased 20 basis points to 7.35% in June 2026, driven primarily by a large lodging cure. Among property types, lodging posted the largest decrease of 79 basis points to 5.22%, while retail increased 30 basis points to 6.91% and multifamily rose 28 basis points to 7.23%, with the five largest newly delinquent loans totaling $998.9 million of $2.64 billion in total newly delinquent loans.
Bank CRE loan originations on balance sheets reached $6.2 billion in Q1 2026, up 23% year-over-year despite geopolitical headwinds including the Iran war, while the overall delinquency rate improved to 1.84% from 1.99% a year earlier. Office markets in Atlanta, Los Angeles, and Washington D.C. continued to show stressed conditions with criticized loan rates above 40%, and Phoenix emerged as the multifamily market leader in criticized loans at 31.8%, though Houston improved as new supply was absorbed.
Morningstar DBRS climate risk assessment tool mapping exposure and vulnerability across European residential mortgage-backed securities.
Morningstar DBRS research on the rating methodology and ongoing monitoring practices for North American commercial mortgage-backed securities with multiple borrower pools.
Morningstar DBRS ranks commercial mortgage servicers across North America, providing performance and competitive positioning data in the CMBS market.
Morningstar DBRS analyzes sensitivity factors for a securitized real estate mortgage investment conduit trust focusing on single-family rental properties.
Comprehensive quarterly data and analysis on commercial real estate and multifamily market metrics from the Mortgage Bankers Association.
Data tracking annual maturity volumes for commercial and multifamily loans, providing insight into debt refinancing cycles and capital market timing.
KBRA publishes a comprehensive update to its Commercial Mortgage-Backed Securities loss analysis and performance data.
KBRA published an updated compendium of commercial mortgage-backed securities loss data and analysis for December 2025.
KBRA published an updated compendium of commercial mortgage-backed securities loss data and analysis.
KBRA analysis of commercial mortgage-backed securities loss performance and delinquency trends.
KBRA publishes an updated compendium of commercial mortgage-backed securities loss data and analysis.
KBRA's periodic update to its compendium of loss data and performance metrics across commercial mortgage-backed securities.
KBRA's compendium tracking commercial mortgage-backed securities loss performance and default data as of June 2024.
KBRA research compendium tracking commercial mortgage-backed securities loss data and trends as of June 2024.
KBRA provides an outlook on structured finance market conditions and trends for the year ahead.
KBRA provides an outlook on U.S. CMBS market trends, examining issuance activity and the persistence of loan distress.
KBRA's analysis of resilient foundations and growth trajectory for European structured finance markets.
KBRA examines how tariff uncertainty and related economic pressures may impact structured finance markets and credit conditions.
KBRA presents a slide deck outlining perspectives on structured finance market conditions, trends, and outlook for 2025.
KBRA's forward-looking analysis of the European structured finance market for 2025, examining sector trends and outlooks.
KBRA examines the commercial mortgage-backed securities sector outlook for 2025, analyzing market trends and potential dual-peak performance scenarios.
KBRA's outlook on European structured finance sector conditions and risk factors for the coming period.
KBRA provides a sector outlook addressing Commercial Mortgage-Backed Securities market conditions and recovery prospects.
KBRA assessment of European structured finance sector conditions and performance trajectory for 2023.
KBRA provides a forward-looking analysis of commercial mortgage-backed securities market conditions and risk factors.