CMBS loans maturing within 6-18 months require proactive refinance planning to avoid special servicing transfer. Options include new CMBS conduit financing, bank refinance, bridge loans, and mezzanine supplements. Starting the refinance process 12-18 months before maturity ensures adequate time for underwriting, appraisal, and potential property repositioning.
Written by Ed Freeman, Capital Advisory — PeerSense
CMBS balloon maturing in 6-18 months? Explore refinance options before your loan transfers to special servicing. New CMBS, bridge, mezzanine, and bank alternatives compared.
Minimum 30-35% equity required. CRE owners with CMBS loans maturing in the next 6-18 months.
LTV Target
Varies by exit strategy
Est. Rate Range
6.00% - 12.00% (depending on exit path)
Term
5-10 years (new CMBS) / 12-36 months (bridge)
Recourse
Non-recourse (CMBS) / Varies (other options)
DSCR
1.25x minimum (CMBS) / Varies
Closing Speed
45-90 days
Min Loan Size
$2M
Loan Products
CMBS, Bridge, Bank, Mezzanine
Start planning 12-18 months before your CMBS balloon maturity date. If the property is performing well with stable or improving NOI, a new CMBS conduit loan at current rates is the cleanest exit. If property value has declined and the loan is now at higher effective LTV, you may need subordinate capital (mezzanine or preferred equity) to right-size the senior debt. If the property needs renovation or repositioning, a bridge loan provides 12-36 months of runway before permanent refinance. The worst outcome is waiting until 3-6 months before maturity, when options narrow and pricing worsens significantly.
PeerSense pre-underwrites every deal before presenting it to our institutional capital sources. With 500+ lender relationships and live market rate intelligence, we match your any cre deal with the right capital source — right now.
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Written by Ed Freeman, Capital Advisory — PeerSense. Updated March 2026.
Disclaimer: The information on this page is provided for educational purposes only and does not constitute financial, legal, or investment advice. Rates, terms, and availability are subject to change based on market conditions, property characteristics, and borrower qualifications. The rate ranges cited reflect approximate market pricing as of March 2026 and may not reflect current conditions at the time of reading. PeerSense is a capital advisory firm, not a lender. We do not originate, fund, or service loans. All financing is provided by third-party lenders subject to their own underwriting criteria and approval processes. Borrowers should consult with qualified financial and legal professionals before making any financing decisions.