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Apartment owners face $757B in loans maturing from 2026 to 2028

Nearly $300 billion of the maturities hit in 2026, and Trepp estimates about 3% of loans that cannot be extended are in distress, the highest level in five years.

Reported · Written up by our desk · Mortgages

Apartment owners face $757 billion of loans coming due between 2026 and 2028, according to ConnectCRE, citing Mortgage Bankers Association data reported by the Wall Street Journal.

ConnectCRE reports that almost $300 billion matures in 2026, with borrowing rates roughly twice the level seen in 2021 when many of those loans were originated.

As rates rose and financing conditions tightened, the delinquency rate for multifamily loans in CMBS jumped from 1% in October 2023 to 7.1% this year, the outlet said, citing a Morgan Stanley report.

ConnectCRE added that about 3% of loans due this year that cannot be extended are in distress, based on Trepp data, describing it as the highest level over the past five years.

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