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The Trepp CMBS Special Servicing Rate dropped by 6 basis points in December, falling to 6.78%. With this decrease, the special servicing rate closed out 2023 with a total increase of 167 basis points on the year. Instantly access the special servicing report below to see a breakdown of the rates by property type.

Discover in the following video how we helped a global 500 Bank to optimise office space utilisation in order to downsize its real estate footprint and reduce costs. http://spr.ly/6046c8IYA #OneIronMountain #BankingInnovation

90% Of Maturing CMBS (Commercial Mortgage-Backed Securities) Of Office Properties Defaulted At Their Maturity In September   89% defaulted ($672 million) and 11.1% ($83.7 million) were paid off during September 2023. None were extended or modified, according to Moody’s Analytics.  A new company, Arthroto, has a plan to make conversion of office to residential easier and cheaper by using factory-manufactured components that can be assembled floor by floor without disrupting other floor tenants. Ass this to the other ideas being tried in different parts of the continent, like growing high-value produce in Class A office building, growing cannabis, conversion to homeless housing (which I have not seen any successful examples as of yet) and with older, small-floor plate buildings, straight conversion from office to residential.  #CMBS Defaut #officebuilding #OfficetoResidentialConversion #SIOR #Colliers

Total take-up during June reached 279,934 sq ft across 37 transactions, taking the overall Q2 figure to 683,975 sq ft, down 30% on the ten-year average. This resulted in H1 leasing activity totalling 1.47m sq ft, down 25% on the ten-year average. The largest transaction to complete this month was Eisler Capital’s pre-let of the entirety of the fourth to fifth floors at Landsec’s Lucent, 1 Sherwood Street, W1 development (49,287 sq ft), on terms which remain confidential at present. However, the rent is believed to be just over £100 per sq ft. Although H1’s leasing activity paints a negative picture, there were some notable outliers. We saw two other transactions in the Insurance & Financial Services sector, in addition to Eisler. First was 3i’s acquisition of the first and second floors at 1 Knightsbridge, SW1 (48,202 sq ft) for a rent of around £100 per sq ft. The other involved Point 72, which expanded its current footprint at 8 St James’s Square, SW1, through leasing the fourth floor (10,141 sq ft) by way of an assignment. In fact, take-up for the Insurance & Financial Services sector is up 74% on the ten-year average, and is the second strongest H1 we have recorded.

As the #business landscape continues to evolve, it is essential to stay informed about the future #trends and predictions for staff leasing in the #Philippines. Read more: https://lnkd.in/gjwzBdxb

SPIRITED activity has returned to the Australian office market with $570 million worth of assets changing hands this week, although vendors are accepting deep discounts to get deals across the line as a Parramatta office building once valued almost $190 million, sold for more than 60% below its peak valuation. #propertyvaluation #officevalues #investmentsales #capitalmarkets #CRE #commercialrealestate #commercialproperty #areits

In this first part of the series, Trepp examined how operating expenses overall have had an impact on property-level performance across metropolitan statistical areas (MSAs) by placing total operating expenses in the bigger picture context of revenue and profitability. In the following parts of the series, we will explore the particular line-item operating expenses driving this overall profitability in specific office markets. Stay tuned! https://lnkd.in/e4hMgFhf  

Discover in the following video how we helped a global 500 Bank to optimise office space utilisation in order to downsize its real estate footprint and reduce costs. http://spr.ly/60409V8Ku #OneIronMountain #BankingInnovation

Do you know how will be 𝐇𝐲𝐝𝐞𝐫𝐚𝐛𝐚𝐝’𝐬 𝐮𝐩𝐜𝐨𝐦𝐢𝐧𝐠 𝐆𝐫𝐚𝐝𝐞-𝐀 𝐨𝐟𝐟𝐢𝐜𝐞 𝐬𝐮𝐩𝐩𝐥𝐲? Which market is going to receive the highest supply in the next couple of years? 🏙️ Swipe through to study in detail. 𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐡𝐞𝐫𝐞: https://bit.ly/3UQVoPk ✨ #KeyOfficeMarkets #SupplyTrends #PropShareResearch  .  .  .  .  .  . #FinancialFreedom #RealEstateMarket #PropertyInvestment #CommercialProperty #InvestmentOportunity #WealthCreation #RealEstateInvesting #InvestingOpportunity #CommercialRealEstate

The expansion of enterprises and their need for additional office or retail space is indicative of a growing economy. On the other hand, a high rate of vacancy in commercial buildings may be a sign of trouble in the economy or a downturn. 📈🏢🏪📊📉 Learn more at premiumcashflow.com #passiveincome #timefreedom #realestate #investing #multifamily #premiumcashflow🏘💰