Fitch: U.S. CMBS Loans Maturing at Rapid Pace through 2017
Through the end of July 2015, approximately $20 billion of loans with scheduled maturities in 2015 have been repaid. Additionally, approximately $1.3 billion and $6 billion of loans with original maturities in 2015 and 2016, respectively, have defaulted (at least 60 days delinquent, in foreclosure or real estate owned).
A breakdown of upcoming maturities by quarter and subsequent years is as follows:
--Remainder of 3Q'15: $3.8 billion (464 loans);
--4Q'15: $7 billion (751 loans);
--1Q'16: $9.6 billion (923 loans);
--2Q'16: $12.5 billion (1,006 loans);
--3Q'16: $12.1 billion (1,088 loans);
--4Q'16: $17.8 billion (1,556 loans);
--2017: $67 billion (4,854 loans).
The largest non-specially serviced loans maturing in 2015 are listed below:
--$563.9 million Kindercare Portfolio; securitized in GECMC 2006-C1; BACM 2006-1 (not rated by Fitch); BACM 2005-6 (not rated by Fitch); matures December 2015;
--$275.7 million Oak Park Mall; BSCMS 2005-PWR10; December 2015;
--$192 million JQH Hotel Portfolio; GSMS 2006-GG6; October 2015;
--$172.6 million Triangle Town Center; LBUBS 2006-C1 and LBUBS 2006-C7; December 2015;
--$140 million Millennium Park Plaza; WBCMT 2005-C20; August 2015.
Additional information is available in Fitch's weekly e-newsletter, 'U.S. CMBS Market Trends', which also contains recent rating actions and an overview of newly released CMBS research, including Fitch presales and Focus reports. The link below enables market participants to sign up to receive future issues of the E-newsletter:
'http://pages.fitchemail.fitchratings.com/CMBSMktOptin/'
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