The apartment loans with CMBS financing reached an 185% increase in distress since the start of the year. The CRED iQ distress rate added 13 basis points in June to 8.62%, a nearly identical gain as posted last month. The print marks a fourth straight record high. The CRED iQ team evaluated payment statuses reported for each loan, along with special servicing status as part of our monthly distress update. CRED iQ’s special servicing rate remained mostly flat at 8.08% while the CRED iQ delinquency rate gained 48 basis points to 6.28% in this print.
