CMBS loans in North Carolina
By Brad Beattie, Director, Capital Markets, Janover Capital LLC · Published
278 CMBS loans with $4.7 billion outstanding are secured by property in North Carolina, 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 6.57% (30 loans), against 6.40% nationally.
- Live CMBS loans
- 278
- $4.7B outstanding
- Loans made, last 12 months
- 30
- $614M
- Median rate, last 12 months
- 6.57%
- 30 loans
- Maturing 2027 to 2028
- $992M
- 65 loans
Property mix
Office is the largest share of North Carolina's CMBS debt, $1.1B across 30 loans.
- Office30 loans $1.1B
- Retail60 loans $1.1B
- Hotel63 loans $1.0B
- Multifamily22 loans $382M
- Mixed use16 loans $372M
- Industrial21 loans $294M
- Self-storage40 loans $258M
- Mobile home park21 loans $175M
- Co-op housing1 loans $10.7M
Lenders active in North Carolina
The originators with the most North Carolina loans in CMBS trusts from the last 12 months.
- KeyBank 4
- Morgan Stanley 3
- Wells Fargo 3
- Deutsche Bank 3
- Citi 3
- Goldman Sachs 3
- Barclays 2
- AxLender 1
Full rankings: CMBS lenders.
North Carolina CMBS maturities by year
28 loans ($349 million) mature in 2027 and 37 ($644 million) in 2028. 8 loans (2.9% of the state's loans) are with a special servicer, against 4.3% nationally, and 1.8% are 60 or more days delinquent.
| Year | Balance | Loans |
|---|---|---|
| 2026 | $33.6M | 6 |
| 2027 | $349M | 28 |
| 2028 | $644M | 37 |
| 2029 | $1.5B | 78 |
| 2030 | $561M | 34 |
| 2031 | $673M | 47 |
| 2032 | $414M | 17 |
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 North Carolina: Charlotte (52), Fayetteville (16), Durham (16), Greensboro (13), Raleigh (12), Asheville (10), Concord (7), Winston-Salem (7).
Every loan, property by property, is listed on cmbs.news by metro area: Charlotte-Concord-Gastonia, NC-SC, Virginia Beach-Chesapeake-Norfolk, VA-NC, Raleigh-Cary, NC, Durham-Chapel Hill, NC, Greensboro-High Point, NC, Fayetteville, NC.
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 North Carolina?
278 loans with $4.7 billion outstanding were still reporting in CMBS trusts as of October 28, 2026, counted by the state of each loan's largest property. Office is the largest share by balance.
What are CMBS rates in North Carolina?
The median original rate on North Carolina CMBS loans originated in the 12 months to October 19, 2026 was 6.57% across 30 loans; the middle half ran from 6.31% to 6.83%. Rates depend far more on property type and leverage than on state.
How many North Carolina CMBS loans mature in 2027 and 2028?
28 loans ($349 million) in 2027 and 37 ($644 million) in 2028.
Financing property in North Carolina?
Send the deal. Janover Capital LLC will ask CMBS, bank and life company lenders to price it.