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Analysis

Payoff Rate for Maturing Office Loans Shows Surprising Improvement

A bit of early movement in office loans aren’t guaranteed to keep going.

There’s some good early news on office loans. In January and February, the payoff rate for maturing  loans were at 48%, higher than the 35% of 2023 overall.

However, the good is only relative because there is no way to know yet what will happen in ongoing 2024 activity. The current year could be a challenge as, according to Moody’s Analytics CRE. More than $17 billion in office-backed CMBS mature this year. That’s double the amount from 2023.

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Erik Sherman

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