Across the country, $21.2B of CMBS loans—4.22%—are underwater, with about $1.7B about to become delinquent. The delinquency rate is a full 136 bps lower than last year, although it's been ticking back up since February. All things considered, major Houston assets have thus far avoided calamity. Unfortunately, these 11 properties, below listed from smallest to largest loan, have not.
Marina Gate Shopping Center
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Address: 1010 East NASA Rd, Webster
Property Type: Retail
Current Balance: $5.1M
Delinquency Status: Non-performing matured balloon
Venture Tech Building
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Address: 8708 Technology Forest Place, The Woodlands
Property Type: Office
Current Balance: $5.3M
Delinquency Status: 90+ days delinquent
Lantern Bend Medical
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Address: 411 Lantern Bend, Houston
Property Type: Office
Current Balance: $6.5M
Delinquency Status: REO
Gray Falls Center
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Address: 12000 Westheimer, Houston
Property Type: Office
Current Balance: $6.7M
Delinquency Status: REO
FMC Technologies Building
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Address: 14741 Yorktown, Houston
Property Type: Office
Current Balance: $7.6M
Delinquency Status: REO
Northwood Village
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Address: 351 Greens Rd, Houston
Property Type: Retail
Current Balance: $7.6M
Delinquency Status: Foreclosure
West Oaks Plaza
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Address: 2703 State Highway 6, Houston
Property Type: Retail
Current Balance: $8.6M
Delinquency Status: REO
Northborough Tower
Address: 100 Glenborough, Houston
Property Type: Office
Current Balance: $8.9M
Delinquency Status: Foreclosure
Woodforest Shopping Center
Address: 11054 East Fwy, Houston
Property Type: Retail
Current Balance: $10.8M
Delinquency Status: Foreclosure
13333 Northwest Crossing
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Property Type: Office
Current Balance: $14.3M
Delinquency Status: Foreclosure
9720 Cypresswood
Property Type: Office
Current Balance: $17.7M
Delinquency Status: REO
All data obtained from Trepp Research
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