For instance, Bank of China has moved past Germany's HSH Nordbank AG, the Trepp data show.
The servicer has put the mortgage on its "watch list, " indicating concern for possible default, Trepp data show.
Small properties "are much less attractive to the banks, especially larger banks, " says Matthew Anderson, managing director at Trepp.
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"We've got a long way to go in terms of recovery until we get back" to peak levels, says Matthew Anderson, managing director at Trepp.
But the delinquency rate that has risen from 0.3% to 9.5% in the three years through November will likely rise further, according to Trepp and other analysts.
Unable to refinance, the group is asking the lender to accept a discounted payoff on the loan, according to Trepp, which also showed the mortgage flagged for imminent default.
That is a worse recovery than most other commercial-property types in that period, ranging from a 36.6% average loss for office buildings to 48.8% for hotels, according to Trepp.
According to Trepp LLC, a research firm, investors in securitized mortgages on retail properties sold at a loss since 2010 recouped 49.7% less than they were owed on those debts.
It carries a floating interest rate which is currently at about 1.75%, well below the 5.2% average rate on commercial-construction loans by U.S. banks in the fourth quarter, according to Trepp LLC.
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"There's been improvement over the last couple years, but really, it's just within the last quarter that the overall sector has been turning, " said Matthew Anderson, managing director at loan research service Trepp LLC.
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