The CMBS delinquency rate ended August at 3.73 percent, up 24 basis points from July and 239 percent since the beginning of the year.  Fewer General Growth Properties (GGP) loans were reported as delinquent in August (12 loans) than July (21 loans) or June (52 loans). Excluding GGP-related delinquencies, the August delinquency rate is 3.53 percent—following two consecutive monthly increases of 11 percent.     Multi-family saw the largest increase in delinquencies among the commercial property types, rising to 6.02 percent on $1.2 billion in new delinquencies. Contributing to the increase were three large multi-family loans: the Bethany Phoenix Portfolio ($164.5 million principal balance) in LB Commercial 2007-C3, the Babcock & Brown FX loan ($157.4 million) in CSFB 2006-C2 and the Trilogy Apartments loan ($135.6 million) in Bear Stearns 2005-POWER 9.