A total of 983 CMBS loans with a balance of $11.01 billion have been defeased so far this year, according to Trepp Inc. That’s a volume last seen before the coronavirus pandemic had struck. For all of last year, in contrast, $9.1 billion of private-label CMBS loans had been defeased. An odd thing is happening now as loans have been defeased with bonds paying a lower rate, resulting in negative defeasance premiums.

The post CMBS Loan Defeasance Nears Last Year’s Pace; Negative Premiums Seen appeared first on Commercial Real Estate Direct.