CRED iQ, a provider of commercial real estate (CRE) data, analytics and valuation, has launched Daily Distress Alerts, a real-time data feed suited for the current CRE environment.
As soon as any property, loan or portfolio hits key credit triggers that signal a potential or imminent default (such as a missed payment, increased number of days delinquent or transfer to the Special Servicer),a real-time alert, fully equipped with pertinent data is sent directly to CRED iQ subscribers via email.
“In today’s market, being among the first to be notified is a critical advantage,” noted Michael Haas, co-founder and CEO of CRED iQ. “Our software sends these vital alerts to our subscribers in nearly real-time, while including invaluable data about the loan and the reasons for the potential default.”
CRED iQ reported nearly $4 billion in maturity defaults alone so far this year. Of the 50 largest MSAs tracked by CRED iQ, the overwhelming majority exhibited month-over-month increases from March to April in the percentage of distressed CRE loans. The distress trend is clearly accelerating.
“Our clients have expressed the critical importance of early notification of distress—both for tactical opportunities as well as the wider context and forecasting advantages,” added Chris Aronson, chief commercial officer of CRED iQ. We listened carefully and CRED iQ is now thrilled to deliver this exciting new capability.”
Daily Distressed Alerts are available to all subscribers as an add-on feature. It is also included in some of Enterprise subscriptions.
