RT Carl ₿ MENGER ⚡️🇸🇻 (@CarlBMenger)BREAKING: Office CMBS Delinquency Rate jumps to 11.7%, the highest level in history 🚨 https://t.co/9gkZxMd9Hg ...

Group 1 - The overall commercial real estate Trepp CMBS Special Servicing rate decreased by 19 basis points to 10.29% in August, marking the second consecutive monthly decline after reaching an all-time high in June [3] - The most significant reductions in servicing rates were observed in lodging, which fell by 91 basis points to 9.10%, and mixed-use properties, which decreased by 157 basis points to 10.64% [3] - The Trepp CMBS Delinquency Rate rose for the sixth consecutive month in August 2025, increasing by 6 basis points to 7.29%, with multifamily and office rates surging to all-time highs [4] Group 2 - The delinquency rate for apartment commercial mortgage-backed securities reached a nine-year high in August, jumping 71 basis points month over month to 6.86% [8] - The multifamily delinquency rate was 3.3% a year ago and 4.46% six months ago, indicating a significant increase [8] - Servicing rates for apartment CMBS loans rose by 24 basis points month over month to 8.61% in August, compared to 5.71% a year ago and 8.51% six months ago [8] Group 3 - REIT executives noted that low-priced deals have not yet emerged despite rising delinquency rates, with some indicating a lack of distress in the market [5][6] - Cap rates for apartments have fallen from Q1, suggesting that prices are increasing, although the number of transactions remains low [6] - As more properties become delinquent, potential buying opportunities may arise, but currently, there is no significant distress in the market [6]