The Trepp CMBS special servicing overall rate declined 11 basis points in July to 11.09%, partially reversing the increases of recent months. However, decreases in special servicing rates were not seen across the board in all property types. The improvement was led by office, the largest special servicing category, along with lodging, whose rates fell 53 and 26 bps to 16.58% and 8.63%, respectively. Industrial edged down three bps to 1.34%. That…
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