Days ago, JLL released its estimate of the coming CRE maturity wall — $1.5 trillion by the end of 2025, with a quarter of the total likely finding difficulty in refinancing.
The basics have faced the industry for years. Now the specifics of reality are arriving. Many property owners, and their lenders, have some hard things to face. Will there be enough capital infusion available to enable refinancing or payment of the amounts owed?
However, the future doesn't stop in 2025. It keeps going and so does the one maturity wave after another. S&P Global Capital IQ made its own projections. The firm expects $946 billion to come to maturity in 2024 and another $998 billion in 2025. That total of more than $1.9 trillion is larger than the JLL $1.5 trillion estimate.
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