CMBS problems continue in US and Europe

The immediate outlook for the global commercial mortgage-backed market remains bleak, with delinquency rates heading upwards on US transactions and their European equivalents hit by conservative property valuations.

According to Pennsylvanian rating agency Realpoint, which carries out surveillance on 95% of the US CMBS market, the delinquent unpaid balance on $797.1 billion worth of CMBS transactions stood at $47.82 billion at the end of February, up $1.87 billion from the previous month.

The un

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