Citi CMBS loans: recent loans, sizes and rates

What Citi's CMBS lending looks like

• Larger loans than the market: a median of $21M against $15M for every CMBS loan in the 12 months to October 19, 2026.
• Rates in line with the market once property type is accounted for: across the 7 types where it made at least five loans, its median note rate was within 7 basis points of the market median for the same type, on a loan-weighted basis.
• Geographically concentrated: 31% of its loans were on property in NY.
• Less active than a year earlier: 113 loans in the latest 12 months against 160 in the 12 months before.

Citi against the CMBS market

Measure	Citi	CMBS market
Median loan	$21M	$15M
Median note rate	6.39%	6.40%
Middle half of rates	6.01% to 6.65%
Median loan-to-value	64.8%	63.9%
Median debt service coverage	1.34x	1.47x
Median debt yield	9.3%	10.1%
Interest-only for the full term	92%	87%
Five-year term	85%	79%
Ten-year term	15%	21%

Citi: 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 Citi financed

Property type	Loans	Volume	Median rate	Market, same type
Multifamily	42	$1.11B	6.20%	6.35% (-15 bp)
Mixed use	18	$619M	6.33%	6.42% (-9 bp)
Retail	15	$460M	6.59%	6.58% (+1 bp)
Hotel	10	$836M	7.07%	7.02% (+5 bp)
Self-storage	9	$260M	6.16%	6.11% (+5 bp)
Industrial	8	$737M	6.63%	6.63% (0 bp)
Office	6	$365M	6.54%	6.64% (-10 bp)
Other or not reported	4	$122M
Mobile home park	1	$11M

Median rates shown where Citi 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 $3.5M, largest $552M. 92% were interest-only for the whole term. What those terms mean for a borrower: CMBS loan terms and interest-only CMBS loans.

Where Citi lends

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

• NY 35
• TX 10
• FL 7
• CA 7
• OH 6
• NJ 6
• AZ 4
• PA 4
• LA 4
• MI 4

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

Citi loans securitized each quarter

Quarter ending	Loans	Chart
Jan 20, 2025	35
Apr 21, 2025	44
Jul 21, 2025	36
Oct 20, 2025	45
Jan 19, 2026	29
Apr 20, 2026	41
Jul 20, 2026	32
Oct 19, 2026	11

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 Citi appears in the SEC filings

Trusts name the originator in their own words. These are the versions of the name on Citi loans in the 24 months to October 19, 2026, with the number of notes filed under each, including loans made jointly with other lenders. 54 trusts hold these loans; the most were in Citigroup Commercial Mortgage Trust 2026-MFAM1 (27).

• Citi Real Estate Funding Inc. 234
• CREFI 67
• WFB, CREFI, JPMCB 6
• JPMCB, CREFI 4
• CREFI, UBS AG 3
• CREFI BMO 3
• JPMCB CREFI 3
• CREFI AREF2 3
• CREFI, AREF2 3
• GSBI, CREFI, GACC 2
• Citi Real Estate Funding Inc./JPMorgan Chase Bank, National Association 1
• Citi Real Estate Funding Inc., UBS AG 1
• Barclays Capital Real Estate Inc., Societe Generale Financial Corporation, Citi Real Estate Funding Inc. 1
• German American Capital Corporation and Citi Real Estate Funding Inc. 1

Plus 6 other spellings and joint-originator combinations.

Citi's own website: citigroup.com. Bank programs, contacts and terms are theirs to state; this page reports only what the filings show.

Getting a CMBS loan like these

Janover Capital LLC is a commercial mortgage advisor, not a lender, and has no affiliation with Citi. Nothing here means Citi 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 Citi. Before you do, read CMBS loan requirements and the document checklist.

Similar CMBS lenders

Closest in property mix:

• Zions Bank: 13 loans, median $23M at 6.54%
• Argentic: 41 loans, median $13.9M at 6.72%
• LMF Commercial: 9 loans, median $7.5M at 6.55%
• Benefit Street Partners (BSPRT): 12 loans, median $26.1M at 6.59%

All CMBS lenders, ranked · CMBS loan rates · Methodology

Questions people ask

How big are Citi's CMBS loans?

In the 12 months to October 19, 2026, Citi securitized loans from $3.5M to $552M, with a median of $21M. 20% were under $10 million. A loan split into notes across trusts counts once, at its full amount.

What interest rate does Citi charge on a CMBS loan?

Its loans in the 12 months to October 19, 2026 carried a median note rate of 6.39%, with the middle half between 6.01% and 6.65%. 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 Citi finance with CMBS loans?

Multifamily (42 loans), Mixed use (18 loans), Retail (15 loans), Hotel (10 loans), and others, in the 12 months to October 19, 2026. Its most frequent state was NY (35 loans).

Who services a Citi 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.