Multifamily CMBS servicing rate declined, delinquencies stayed flat in August: Trepp
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed multifamily deal value tracked in September 2026: $11.6B across 138 reported transactions. All Multifamily coverage →
- 7 stories mentioning Trepp on the wire in the past 90 days. Trepp coverage →
Computed from Real Estate Trail’s own tracked coverage
CRED iQ also reported that delinquencies on bank-held loans fell in Q2. However, some investors say lenders are growing more aggressive in working out problem loans.
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