The delinquency rate for commercial mortgage-backed securities (CMBS) hit a post-recession low this month, according to new data released by Trepp

The overall delinquency rate for commercial real estate loans in CMBS is currently 4.12 percent, a decrease of 24 basis points from last month’s 4.36 percent level and a 135 basis points decline from 5.47 percent level set one year ago. This month’s delinquency rate goes beyond the previous post-crisis low of 4.15 percent from February 2016.

Among the different sectors within commercial real estate, the multifamily delinquency rate inched up one basis point to 2.27 percent; Trepp identified apartment loans as the best performing major property type for May. The industrial delinquency rate increased 16 basis points to 4.69 percent while the lodging delinquency rate dropped six basis points to 2.92 percent and the office delinquency rate plummeted by 55 basis points to 5.02 percent. The retail delinquency reading took a 25-basis-point dive to 5.72 percent.