Denver loan maturities by property type

Maturing CMBS loans by commercial property type in Denver

  • Denver faces a looming test as a staggering $41.9 billion in commercial real estate loans come due in the next five years, with a notable chunk of over $9.6 billion scheduled for repayment in 2025 alone. Within this timeframe, Apartment and Retail properties stand out, collectively holding the majority of these loan maturities at $9.8 billion and $936.7 million, respectively.
  • The prevalence of Apartment loans is particularly pronounced, holding a dominant position by accounting for 66.7% of all maturing loans in 2025. A recent YARDI report ranks Denver #2 among major metropolitan areas for the highest volume of loans maturing through 2029, highlighting the city's heavy concentration of multifamily loans.
  • The Office sector also faces a significant challenge with a high volume of maturing loans. The once-stable office sector is still grappling with the lingering effects of the pandemic, as remote work has gained permanence and declining demand for office space has driven vacancy rates to new heights. Weakened office fundamentals, extremely high tenant improvement construction costs, and a high-interest-rate environment have made investors and lenders wary of office assets.

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