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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