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Distress Levels in Property-Backed Loans Rise, Reaching $1.4 Billion for Multifamily

Lower Rents, Higher Interest Rates Push More CRE CLO Debt Into Delinquency
Amara Apartments in Phoenix, with a 22% vacancy rate and 10% yearly rent reduction, is more than 30 days late on a $51.4 million loan, the largest delinquency on Arbor Realty Trust's books. (CoStar)
Amara Apartments in Phoenix, with a 22% vacancy rate and 10% yearly rent reduction, is more than 30 days late on a $51.4 million loan, the largest delinquency on Arbor Realty Trust's books. (CoStar)
CoStar News
February 29, 2024 | 10:07 P.M.

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Multiple measures show increased delinquency rates in commercial real estate collateralized loan obligations, better known as CRE CLOs.

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News | Distress Levels in Property-Backed Loans Rise, Reaching $1.4 Billion for Multifamily