While the US economy is experiencing a V-shaped recovery, the CMBX-8 reference index for CMBS is still declining after an increase in June.
What is the collateral behind CMBX-8? Retail and office are the leading property types.
10.1% of the loans are with the special servicer (11.0% if you take defeased loans out of the denominator) while 21.0 % of the loans are on servicer watchlist (22.9% without defeased).
How can CMBX-8 start rising again? Governors and mayors have to stop the US economic lockdown.
Here are the 10 largest loans behind CMBX 8. The two largest are office loans.