CMBS delinquencies soar in June as hotels default on loans

A record net increase of $2.2 billion in U.S. commercial mortgage-backed securities delinquencies was seen in June as the commercial market, particularly retail and hotel properties, continued to struggle. Five loans of $100 million or more that were backed by hotel properties or regional malls were among those that went into default last month, and 13 hotel loans worth a cumulative $596 million defaulted.

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