Forget office debt maturities: Maturing multifamily loans could have more impact

There’s been much discussion about problems plaguing the commercial office sector. High vacancy rates have led to plummeting rent growth and declining asset valuations. Adding to the problem have been debt maturities. Though numbers vary, depending on the loan type, Moody’s Analytics CRE reported $8.9 billion of outstanding Fixed-Rate CMBS office loans will mature in 2023, with anticipated equity contributions of $1 billion necessary for refinancing.