The delinquency rate for multifamily loans in commercial mortgage-backed securities jumped from 1% in October 2023 to 7.1% this year, the biggest increase of any major property type, a Morgan Stanley report found.
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Office special servicing rose 32 basis points to 16.90%. Retail also climbed 32 basis points to 13.60%, while lodging added 11 basis points to reach 8.74%. Mixed-use jumped 154 basis points to 13.47% because of the Los Angeles portfolio @TreppWire
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