Office CMBS starting to move into distress

06/7/2010 | CMAlert.com

Office commercial mortgage securitizations are moving into distress after a period of remaining above the turmoil in the market. Eroding office fundamentals are the cause, analysts say. "As expected, office-loan delinquencies have begun to increase and will continue to rise well into next year," says Mary MacNeill with Fitch Ratings. "Landlords are being pressured by tenant downsizing and must offer significant concessions and reduced rent to maintain their existing tenant bases."

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