CMBS loans in Massachusetts
By Brad Beattie, Director, Capital Markets, Janover Capital LLC · Published
104 CMBS loans with $6.5 billion outstanding are secured by property in Massachusetts, 2.3% of all CMBS debt still in trusts (SEC Form ABS-EE filings, as of October 28, 2026). 8 loans on Massachusetts property were made in the 12 months to October 19, 2026, too few for a reliable median rate.
- Live CMBS loans
- 104
- $6.5B outstanding
- Loans made, last 12 months
- 8
- $314M
- Median rate, last 12 months
- too few
- 8 loans
- Maturing 2027 to 2028
- $1.6B
- 29 loans
Property mix
Mixed use is the largest share of Massachusetts's CMBS debt, $2.7B across 17 loans.
- Mixed use17 loans $2.7B
- Office17 loans $1.4B
- Retail22 loans $951M
- Industrial11 loans $391M
- Self-storage10 loans $391M
- Multifamily13 loans $295M
- Hotel10 loans $289M
- Mobile home park1 loans $17.5M
- Co-op housing1 loans $7.9M
Lenders active in Massachusetts
The originators with the most Massachusetts loans in CMBS trusts from the last 12 months.
- AxLender 2
- Deutsche Bank 1
- JPMorgan Chase 1
- Wells Fargo 1
- KeyBank 1
- Barclays 1
- Citi 1
- UBS 1
Full rankings: CMBS lenders.
Massachusetts CMBS maturities by year
15 loans ($612 million) mature in 2027 and 14 ($962 million) in 2028. 2 loans (1.9% of the state's loans) are with a special servicer, against 4.3% nationally, and 1.9% are 60 or more days delinquent.
| Year | Balance | Loans |
|---|---|---|
| 2026 | $13.8M | 1 |
| 2027 | $612M | 15 |
| 2028 | $962M | 14 |
| 2029 | $1.3B | 25 |
| 2030 | $1.2B | 17 |
| 2031 | $1.0B | 15 |
| 2032 | $193M | 6 |
2026 includes 0 loans 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 Massachusetts: Boston (18), Cambridge (12), Worcester (7), Lawrence (5), Lowell (3), Watertown (3), Braintree (3), East Boston (2).
Every loan, property by property, is listed on cmbs.news by metro area: Boston-Cambridge-Newton, MA-NH, Providence-Warwick, RI-MA, Worcester, MA.
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 Massachusetts?
104 loans with $6.5 billion outstanding were still reporting in CMBS trusts as of October 28, 2026, counted by the state of each loan's largest property. Mixed use is the largest share by balance.
What are CMBS rates in Massachusetts?
Too few Massachusetts loans were securitized in the last 12 months for a reliable median. The national median was 6.40%; property type and leverage matter more than state.
How many Massachusetts CMBS loans mature in 2027 and 2028?
15 loans ($612 million) in 2027 and 14 ($962 million) in 2028.
Financing property in Massachusetts?
Send the deal. Janover Capital LLC will ask CMBS, bank and life company lenders to price it.