CMBS loans in Maryland
By Brad Beattie, Director, Capital Markets, Janover Capital LLC · Published
170 CMBS loans with $4.8 billion outstanding are secured by property in Maryland, 1.7% of all CMBS debt still in trusts (SEC Form ABS-EE filings, as of October 28, 2026). Loans made there in the 12 months to October 19, 2026 had a median rate of 6.58% (12 loans), against 6.40% nationally.
- Live CMBS loans
- 170
- $4.8B outstanding
- Loans made, last 12 months
- 12
- $396M
- Median rate, last 12 months
- 6.58%
- 12 loans
- Maturing 2027 to 2028
- $1.1B
- 49 loans
Property mix
Retail is the largest share of Maryland's CMBS debt, $1.6B across 58 loans.
- Retail58 loans $1.6B
- Office27 loans $1.3B
- Industrial16 loans $612M
- Hotel28 loans $512M
- Multifamily12 loans $264M
- Mixed use8 loans $255M
- Self-storage16 loans $131M
- Mobile home park2 loans $41.7M
- Co-op housing1 loans $7.1M
Lenders active in Maryland
The originators with the most Maryland loans in CMBS trusts from the last 12 months.
Full rankings: CMBS lenders.
Maryland CMBS maturities by year
23 loans ($499 million) mature in 2027 and 26 ($571 million) in 2028. 9 loans (5.3% of the state's loans) are with a special servicer, against 4.3% nationally, and 2.9% are 60 or more days delinquent.
| Year | Balance | Loans |
|---|---|---|
| 2026 | $89.4M | 4 |
| 2027 | $499M | 23 |
| 2028 | $571M | 26 |
| 2029 | $840M | 30 |
| 2030 | $384M | 18 |
| 2031 | $579M | 20 |
| 2032 | $468M | 17 |
2026 includes 1 loan already past maturity and still outstanding. What to do before a maturity: CMBS maturity wall; size a refinance with the refinance calculator.
Where the loans are
Cities with the most live CMBS loans in Maryland: Baltimore (18), Rockville (8), Columbia (8), Laurel (7), Bethesda (7), Linthicum Heights (6), Frederick (6), Silver Spring (4).
Every loan, property by property, is listed on cmbs.news by metro area: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD, Washington-Arlington-Alexandria, DC-VA-MD-WV, Baltimore-Columbia-Towson, MD.
Rates depend on the property and the loan far more than on the state. See CMBS loan rates by property type and term, and every state compared.
Source: SEC Form ABS-EE asset-level filings (Schedule AL) for CMBS trusts, compiled by cmbs.news; data as of October 28, 2026. Pari passu pieces of one loan are counted once. Each loan is placed in the state of its largest property; portfolio loans count once. How each figure is built: methodology. Download the tables: CMBS data (CSV).
Questions people ask
How many CMBS loans are there in Maryland?
170 loans with $4.8 billion outstanding were still reporting in CMBS trusts as of October 28, 2026, counted by the state of each loan's largest property. Retail is the largest share by balance.
What are CMBS rates in Maryland?
The median original rate on Maryland CMBS loans originated in the 12 months to October 19, 2026 was 6.58% across 12 loans; the middle half ran from 6.16% to 6.76%. Rates depend far more on property type and leverage than on state.
How many Maryland CMBS loans mature in 2027 and 2028?
23 loans ($499 million) in 2027 and 26 ($571 million) in 2028.
Financing property in Maryland?
Send the deal. Janover Capital LLC will ask CMBS, bank and life company lenders to price it.