News
Boston Delinquencies Retreating
March 9, 2011
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| Boston CRE mortgage loans held in CMBS paper more than 90 days overdue are few and becoming fewer, Trepp?s latest data shows. That's to be expected since rents are rising a bit andvacancies easing in some submarkets. CoStar Group's Mark Fitzgerald tells us, overall, Boston's delinquency problem is small compared to other metro areas and well below the national average. Since rents here never cratered, often borrowers can continue to cover their debt service. The loans that are troubled usually are not yet 90 days overdue. In fact, sometimes owners allow a loan to fall out of compliance as a strategy to renegotiate terms with lenders. Mark expects Boston to continue outperforming the national market into the future. |
