Shopping Center Business is the leading monthly business magazine for the retail real estate industry.
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CAPITAL MARKETS REVIEW 30 • SHOPPING CENTER BUSINESS • December 2017 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, 2017; 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 6.47% 6.55% 6.63% 6.30% 6.19% Top 10 Delinquent Retail Loans $240,000,000 Westfield Centro Portfolio REO Various Fixed VR $140,000,000 Westfield Chesterfield REO Chesterfield Fixed MO Property Name Balance Delinquency Status Location Loan Type $135,489,753 PDG Portfolio Roll-Up Foreclosure Various Fixed AZ $133,000,000 Galleria at Pittsburgh Mills REO Tarentum Fixed PA $132,060,969 Lakeside Mall REO Sterling Heights Fixed MI $123,013,951 Mall of Acadiana Non-Performing Beyond Maturity Lafayette Fixed LA $99,680,722 Southern Hills Mall Non-Performing Beyond Maturity Sioux City Fixed IA $92,829,681 Charleston Town Center Foreclosure Charleston Fixed WV $92,400,000 Rockvale Square REO Lancaster Fixed PA $92,000,000 University Mall REO South Burlington Fixed VT *as of October 31, 2017 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 22.39 22 Pittsburgh, PA 19.97 19 St. Louis, MO-IL 18.96 50 Buffalo-Cheektowaga-Niagara Falls, NY 17.57 29 Cleveland-Elyria, OH 16.76 14 Detroit-Warren-Dearborn, MI 12.54 37 Virginia Beach-Norfolk-Newport News, VA-NC 12.17 12 Phoenix-Mesa-Scottsdale, AZ 11.10 49 Birmingham-Hoover, AL 11.03 13 Riverside-San Bernardino-Ontario, CA 10.95 Top 50 Retail Markets Average 5.22 *as of November 10, 2017 Source: Trepp