CMBS special servicing volumes continued to decline in June, falling by 4.94 percent when compared with May, to $29.25 billion, according to Trepp Inc. That improvement is in contrast to the volume of delinquencies, which had increased by $277 million last month. But June’s special servicing volume is understated as two large loans – totaling $435.81 million – have transferred, but only pieces of them reportedly have been transferred. Still, total volumes in special servicing declined by $1.5 billion, before those two loans are fully factored in.

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