Commentary CMBS Weekly Chronicle – August 11, 2020 DBRS Morningstar DBRS, Inc. (DBRS Morningstar) is pleased to deliver the next issue of the CMBS Weekly Chronicle, which August 11, 2020 highlights important credit events as well as insights from the DBRS Morningstar CMBS team. Clicking on the blue hyperlinks will take readers to our loan-level research on our Viewpoint platform. For Contents 1 July Delinquency Rate Edges Lower, complimentary access to this content, please register for the DBRS Viewpoint platform at Special-Servicing Rate Rises www.viewpoint.dbrsmorningstar.com. The platform includes issuer and servicer data for most 2 A Simon Mall Lands in Special Servicing outstanding CMBS transactions (including non-DBRS Morningstar rated), as well as loan-level and for Delinquency 3 A Dallas Office Building Loan transaction-level commentary for most DBRS Morningstar-rated and -monitored transactions. Approaches Maturity with Sole Tenant Vacating July Delinquency Rate Edges Lower, Special-Servicing Rate Rises 3 Schlumberger Layoffs Threaten Single- Tenant Office Building in Houston The CMBS delinquency rate fell for the first time in five months. It improved 31 basis points to 5.56% as retail loans saw a 128-basis-point drop and hotel delinquency decreased 32 basis points. Exhibit 1 Delinquency Steve Jellinek July June Vice President – Head of Research, Asset Type Balance ($) Dlq % of Total Prop Balance ($) Dlq % of Total Prop North American CMBS Type Balance Type Balance + 1 312 244-7908 Healthcare - - - -
[email protected] Hotel 20,266,316,228 23.57 20,397,340,522 23.89 Stephen Bernard Industrial 237,081,320 0.81 255,988,601 0.87 Vice President – Corporate Communications + 1 312 806-3240 Multifamily 4,946,687,693 0.98 5,231,362,302 1.06
[email protected] Office 3,483,378,315 2.42 3,636,736,031 2.55 Other 4,485,764,343 5.51 4,446,219,194 5.50 Retail 20,725,279,447 16.10 22,386,511,832 17.38 Total 54,144,507,346 5.56 56,354,158,483 5.87 Source: DBRS Morningstar.