The US Commercial Mortgage-Backed Security special service transfer rate is about 30 percent of what it was one year ago. However the Office CMBS delinquency rate remains high. According to Mary McNeil, managing director of Fitch Ratings, "Continued high unemployment and lack of job growth will continue to force office loan borrowers to seek relief as leases roll or are renegotiated." If we start to see more job growth, and therefore unemployment decrease, the office transfer rate will lower along with most other sectors.
Sincerely,
Hunter Brink
Executive Officer
Remington Capital Inc.
(480) 248-9152 :: hunter@remingtoncapitalinc.com
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