DBRS Examines Soaring Delinquency Rate in the Washington D.C. MSA
DBRS, Inc. (DBRS) published a commentary on the high delinquency rates in the Washington-Arlington-Alexandria, DC-VA-MD-WV metropolitan statistical area (MSA). In this commentary, DBRS looks at the historical commercial mortgage-backed security (CMBS) loan data and determines that office loans are the biggest contributors to the high delinquency rates, especially office loans from northern Virginia, which were the most distressed. DBRS anticipates that delinquency rates will continue to remain high within the MSA for a number of reasons, including high pre-recession office loan leverage, high vacancy and rental rates, a mass of new local office development and slow employment growth.
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