They call it… the “maturity wall.” Billions in commercial real estate loans, taken out when interest rates were incredibly low, are all starting to come due. Just in 2026, roughly $936 billion needs to be refinanced.

But here's the problem: Those old, four percent loans are now facing today's rates of seven percent… or even higher. For property owners, this means their monthly payments can absolutely skyrocket. All of a sudden, the rent they collect doesn't even cover the mortgage payments, turning a once-profitable building into a money pit. And when that happens, banks often refuse to refinance. That is where the real trouble begins.