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Mavik Capital targets CRE debt maturities as $875B comes due in 2026

Bisnow says $875B in commercial real estate loans are scheduled to mature in 2026, with lenders having stopped extending credit to give owners more time to pay.

Reported · Written up by our desk · Industry

Bisnow’s First Draft Live featured Mavik Capital founder Vik Uppal, who said one figure is dominating commercial real estate conversations this year, $875B in CRE loans coming to maturity in 2026.

Uppal said lenders have stopped extending loans to give property owners more time, and with interest rates holding steady while 10-year and 30-year bond rates have risen, he expects cheaper debt is not likely to arrive.

He added that Mavik Capital is seeking to invest in situations tied to owners that cannot refinance, and in cases where lenders do not want to foreclose, framing the broader market as uneven in how capital is flowing.

According to Bisnow, Uppal launched Mavik Capital after the Global Financial Crisis, raised $335M for his first fund, nearly doubled that for his second, and is working to raise $1B for the current credit stress cycle.

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