AxLender CMBS loans: recent loans, sizes and rates

What AxLender's CMBS lending looks like

• Smaller loans than the market: a median of $9.6M against $15M market-wide, which puts it among the lenders more likely to look at a loan under $10 million.
• Rates above the market once property type is accounted for: about 16 basis points over the market median for the same property types, loan-weighted. Timing matters too: a lender that closed more loans when Treasury yields were lower will show lower rates.
• More leverage than the market: median loan-to-value of 69.6% against 63.9%, with a median debt service coverage of 1.32x.
• Every loan was interest-only for its full term, against 87% of loans market-wide.
• Almost entirely five-year loans (100%), against 79% market-wide.
• A one-property-type lender in CMBS: 100% of its loans were multifamily.

AxLender against the CMBS market

Measure	AxLender	CMBS market
Median loan	$9.6M	$15M
Median note rate	6.51%	6.40%
Middle half of rates	6.24% to 6.59%
Median loan-to-value	69.6%	63.9%
Median debt service coverage	1.32x	1.47x
Median debt yield	9.1%	10.1%
Interest-only for the full term	100%	87%
Five-year term	100%	79%
Ten-year term	0%	21%

AxLender: its loans in the 12 months to October 19, 2026. Market: every loan securitized in the 12 months to October 19, 2026 except co-op housing (958 loans). Loan-to-value, coverage and debt yield are at securitization and use whole loans only, since a split note holds only part of the debt. See DSCR and debt yield.

Property types AxLender financed

Property type	Loans	Volume	Median rate	Market, same type
Multifamily	25	$387M	6.51%	6.35% (+16 bp)

Median rates shown where AxLender made at least five loans of the type. Market medians are for the 12 months to October 19, 2026.

Loan sizes and terms

Smallest loan $4.2M, largest $47.5M. 100% were interest-only for the whole term. What those terms mean for a borrower: CMBS loan terms and interest-only CMBS loans.

Where AxLender lends

Most frequent states for its loans in the 12 months to October 19, 2026:

• TX 4
• GA 3
• FL 3
• CA 3
• OH 2
• MA 2
• AR 1
• IL 1
• MI 1
• NC 1

Portfolio loans count once, at the state of the largest property. CMBS loans by state.

AxLender loans securitized each quarter

Quarter ending	Loans	Chart
Jan 20, 2025	0
Apr 21, 2025	0
Jul 21, 2025	0
Oct 20, 2025	0
Jan 19, 2026	0
Apr 20, 2026	0
Jul 20, 2026	5
Oct 19, 2026	20

Eight 91-day periods ending October 19, 2026, by origination date. Loans reach the filings when their trust prices, so the latest quarter fills in over the following months.

How AxLender appears in the SEC filings

Trusts name the originator in their own words. These are the versions of the name on AxLender loans in the 24 months to October 19, 2026, with the number of notes filed under each, including loans made jointly with other lenders. 1 trust hold these loans; the most were in AXDB 2026-MULT1 Mortgage Trust (25).

• AxLender (DX) Subsidiary LLC 25

Getting a CMBS loan like these

Janover Capital LLC is a commercial mortgage advisor, not a lender, and has no affiliation with AxLender. Nothing here means AxLender will make a particular loan or offer a particular rate. What the filings do show is the kind of loan it has been closing. If your property and loan size look like the ones above, send the deal and we will place it with conduit lenders whose recent loans fit, which may or may not include AxLender. Before you do, read CMBS loan requirements and the document checklist.

Similar CMBS lenders

Closest in property mix:

• MF1 Capital: 14 loans, median $42.1M at 5.71%
• Greystone: 24 loans, median $9.6M at 6.51%
• Natixis: 34 loans, median $17.9M at 6.29%
• Societe Generale: 21 loans, median $13.4M at 6.46%

All CMBS lenders, ranked · CMBS loan rates · Methodology

Questions people ask

How big are AxLender's CMBS loans?

In the 12 months to October 19, 2026, AxLender securitized loans from $4.2M to $47.5M, with a median of $9.6M. 52% were under $10 million. A loan split into notes across trusts counts once, at its full amount.

What interest rate does AxLender charge on a CMBS loan?

Its loans in the 12 months to October 19, 2026 carried a median note rate of 6.51%, with the middle half between 6.24% and 6.59%. Those are rates at closing as filed with the SEC, not a quote: a new loan is priced off today's Treasury yield and the property.

What properties does AxLender finance with CMBS loans?

Multifamily (25 loans), in the 12 months to October 19, 2026. Its most frequent state was TX (4 loans).

Who services a AxLender CMBS loan?

Not the originator, usually. Once a loan is in a trust, the master servicer named in that trust's pooling and servicing agreement collects payments and handles routine requests, and the special servicer takes over if the loan gets into trouble. Look up a loan by property or trust to see both.