About cmbs.loan
cmbs.loan is a guide to CMBS loans for the people who borrow them: how to get one, how to live with one, and what to do when one goes wrong. It is published by Janover Capital LLC, a commercial mortgage advisor in Boca Raton, Florida. Janover Capital arranges financing; it is not a lender.
What the site covers
A CMBS loan is a commercial mortgage that ends up in a bond trust, and from the day it closes it is governed by documents the borrower rarely sees: the loan agreement, the trust's pooling and servicing agreement, and federal tax rules for the trust. cmbs.loan explains each stage in plain terms. Getting a loan covers requirements, terms and costs. Living with a loan covers defeasance, yield maintenance, assumptions and reserves. Trouble covers special servicing, default and maturity, with the servicer clock built from a real servicing agreement. How CMBS works covers the market itself.
The rates, lender rankings, underwriting medians and maturity figures come from the loan-level data CMBS trusts file with the SEC every month (Form ABS-EE and Form 10-D), compiled by cmbs.news: 19,886 loans across 377 trusts in the current file, as of November 3, 2026. The methodology page explains how each figure is computed.
Who publishes it
Janover Capital LLC is a commercial mortgage capital markets advisory firm at 6401 Congress Ave., Ste. 250, Boca Raton, FL 33487. It arranges CMBS, bank, credit union, life company, agency and bridge financing for owners of commercial and multifamily property, and recapitalizations and refinancing for owners whose loans are in trouble. It is not a bank, a lender, a servicer or a law firm, and it is not affiliated with any CMBS trust or servicer. Nothing on this site is a loan offer or legal or tax advice.
Director, Capital Markets, Janover Capital LLC
Brad Beattie
Brad Beattie has spent thirteen years in debt advisory and capital markets, with more than half a billion dollars of debt closed across construction, acquisition and refinance mandates in every major asset class. He leads bank, credit union, CMBS and life company executions at Janover Capital, and built his early career at Meridian Capital Group.
Brad Beattie is the author of record for the guides and calculators on cmbs.loan.
Editorial standards
- Data from filings. Every rate, loan count and median is computed from SEC filings at build time, never typed by hand, and shows the date of the data behind it.
- Sources inline. A rule or a number that comes from a document links to that document where it is used: the pooling and servicing agreement, the prospectus, the eCFR, IRS guidance or the SEC filing.
- No invented figures. When no primary source supports a number, the page describes the practice without one.
- Honest dates. A page's published date is when it first went up. The updated date changes only when the text changes, not when the site is rebuilt.
- Corrections. If something is wrong, write to hello@cmbs.loan. Confirmed errors are fixed and the page's updated date moves.
Contact
Janover Capital LLC, 6401 Congress Ave., Ste. 250, Boca Raton, FL 33487. (561) 559-4111 · hello@cmbs.loan. To discuss a loan, send the deal; for a loan in trouble, use the troubled loan form.
Get a CMBS quote
Buying or refinancing stabilized commercial property? Send the deal to Janover Capital LLC and a capital markets advisor will reply within one business day.