Shopping Center Business is the leading monthly business magazine for the retail real estate industry.
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CAPITAL MARKETS REVIEW 36 • SHOPPING CENTER BUSINESS • December 2016 Shopping Center Business is pleased to bring retail loan update information provided by Trepp. Trepp is the leading provider of CMBS and commercial mortgage information, analytics and technology to the global securities and investment management industries. Trepp has com- prehensive deal coverage of North American, European and Asian CMBS and Commercial Real Estate CDOs. *as of October 31, 2016; includes loans classified as 30, 60, 90+ delinquent, Non-performing and Foreclosure/REO Retail Loan Delinquency Rates Source: Trepp Percentage of Retail Loans 30+ Days Delinquent* Current 1 Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 6.19% 5.89% 5.76% 5.20% 5.72% Top 10 Delinquent Retail Loans $240,000,000 Westfield Centro Portfolio REO Various Fixed VR $141,000,532 Lakeside Mall Non-Performing Beyond Maturity Sterling Heights Fixed MI Property Name Balance Delinquency Status Location Loan Type $140,000,000 Westfield Chesterfield Foreclosure Chesterfield Fixed MO $133,000,000 Galleria at Pittsburgh Mills Foreclosure Tarentum Fixed PA $124,000,000 The Source REO Westbury Fixed NY $114,400,000 Marley Station REO Glen Burnie Fixed MD $101,500,000 Southern Hills Mall Foreclosure Sioux City Fixed IA $96,120,000 Investcorp Retail Portfolio 1 Foreclosure Various Fixed VR $93,876,224 The Mall at Stonecrest Non-Performing Beyond Maturity Lithonia Fixed GA $92,000,000 University Mall Foreclosure South Burlington Fixed VT *as of October 31, 2016 Source: Trepp Cross Market Rankings Retail Loan Performance for Largest 50 Retail Markets ranked by Percentage 60+ Days Delinquent MSA Size MSA % 60+ Days Delinquent 46 Hartford-West Hartford-East Hartford, CT 24.15 29 Cleveland-Elyria, OH 19.03 22 Pittsburgh, PA 16.47 37 Virginia Beach-Norfolk-Newport News, VA-NC 16.19 19 St. Louis, MO-IL 14.43 27 Sacramento--Roseville--Arden-Arcade, CA 14.31 14 Detroit-Warren-Dearborn, MI 13.96 21 Denver-Aurora-Lakewood, CO 11.82 28 Cincinnati, OH-KY-IN 11.66 20 Baltimore-Columbia-Towson, MD 11.55 Top 50 Retail Markets Average 5.49 *as of November 01, 2016 Source: Trepp