Sunday, March 07, 2010

Dallas Securitized Debt on Commercial Properties

Over 9 percent of area commercial properties with securitized debt were behind on payments at the end of February, more than 33 percent higher than the national average, according to a report released Wednesday by Trepp LLC.
The New York–based analyst tracks thousands of commercial properties across the country that are financed with securitized mortgages.
With nearly 160 commercial and investment properties in trouble, area debt totals $1.28 billion in this sector.
The late loan rate has increased almost 200 percent in Dallas from one year ago, said Paul Mancuso, vice president of Trepp.
The hotel sector had the highest mortgage delinquency rate according to the report, with almost 17 percent of securitized hotel loans behind on payments at the end of last month. The office building delinquency rate was just over 12 percent.
Commercial properties posted for foreclosure in Dallas–Fort Worth rose almost 27 percent in 2009.
(Dallas Morning News)