The Mortgage Bankers Association estimates roughly $875 billion in commercial and multifamily mortgage debt matures in 2026, with some tallies topping $1.2 trillion once extended loans are included. Refinancing is strained because new CRE loans price near 6.2% versus ~4.8% on maturing debt, and the office sector carries an outsized share of distress.
~$875B commercial real estate 'maturity wall' comes due in 2026
Founders leasing office/industrial space can negotiate harder as landlords facing refinancing pressure court tenants — and should vet a landlord's loan health before signing a long lease.
Source: Kidder Mathews
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