The Trepp CMBS Delinquency Rate decreased by 20 basis points to 7.35% in June 2026, led by a large lodging cure. However, three of the five major property types saw increases in their delinquency rates during the month, while two moved lower.
The five largest newly delinquent loans accounted for $998.9 million of the $2.64 billion in newly delinquent loans. They included a super-regional mall in Southern California, a regional mall in New Hampshire, an office complex in New York, a mixed-use tower in Minneapolis and a Manhattan multifamily property.
Retail posted the largest increase, rising 30 bps to 6.91%, and multifamily increased 28 bps to 7.23%, reversing last month’s improvement as several large multifamily assets turned delinquent. Office edged up four bps to 11.57%. Lodging posted the largest decrease, declining 79 basis points to 5.22%, and industrial declined 11 basis points to 1.20%. So-called CMBS 2.0 loans posted similar results in June for all five property types.
