Sunday, May 10, 2009

RealPoint Downgrades Hundreds of CMBS Classes, CRE Deterioration Accelerates

Commercial real estate powerhouse RealPoint has downgraded several hundred deals and CMBS classes in its April evaluation of the sector.

Realpoint CMBS zerohedge

RealPoint also provides a comprehensive April CMBS delinquency report. A must read for both our readers and Merrill Lynch REIT analysts. Main charts extracted below. Most notable is the explosion in 90+ day delinquencies for March relative to April. In fact the deterioration is accelerating across all metrics: no second derivative green shoots anywhere in sight in CRE land.

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