Those trying to understand what is happening with maturing CMBS loans won't have an easy time of it, as the data is complicated and conflicting, according to an analysis for 2024 Q1 by Moody's Analytics CRE.
Some things seemed better and others worse since the same period in 2023. All the loans examined were outstanding, not defeased, with either a fully extended maturity date in 2024 or an earlier maturity date modified to 2024.
Over the next 12 months, there are $18 billion in office CMBS maturities coming. But two of the loans collectively add to more than $1 billion, which means ultimately you could look at the total dollar amount or the number, as either would likely not be fully representative.
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