CMBS loans in Virginia
By Brad Beattie, Director, Capital Markets, Janover Capital LLC · Published
258 CMBS loans with $7.4 billion outstanding are secured by property in Virginia, 2.6% 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 6.38% (19 loans), against 6.40% nationally.
- Live CMBS loans
- 258
- $7.4B outstanding
- Loans made, last 12 months
- 19
- $790M
- Median rate, last 12 months
- 6.38%
- 19 loans
- Maturing 2027 to 2028
- $2.4B
- 70 loans
Property mix
Retail is the largest share of Virginia's CMBS debt, $2.5B across 78 loans.
- Retail78 loans $2.5B
- Office57 loans $2.3B
- Industrial21 loans $731M
- Hotel38 loans $658M
- Multifamily20 loans $597M
- Self-storage24 loans $228M
- Mixed use8 loans $176M
- Mobile home park7 loans $134M
Lenders active in Virginia
The originators with the most Virginia loans in CMBS trusts from the last 12 months.
- Bank of America 6
- Barclays 3
- Wells Fargo 2
- Deutsche Bank 1
- Goldman Sachs 1
- JPMorgan Chase 1
- BMO 1
- Zions Bank 1
Full rankings: CMBS lenders.
Virginia CMBS maturities by year
22 loans ($566 million) mature in 2027 and 48 ($1.9 billion) in 2028. 10 loans (3.9% of the state's loans) are with a special servicer, against 4.3% nationally, and 2.3% are 60 or more days delinquent.
| Year | Balance | Loans |
|---|---|---|
| 2026 | $280M | 8 |
| 2027 | $566M | 22 |
| 2028 | $1.9B | 48 |
| 2029 | $1.7B | 63 |
| 2030 | $989M | 34 |
| 2031 | $574M | 31 |
| 2032 | $586M | 23 |
2026 includes 3 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 Virginia: Richmond (24), Chesapeake (12), Newport News (12), Lynchburg (11), Alexandria (10), Norfolk (10), Hampton (8), Arlington (7).
Every loan, property by property, is listed on cmbs.news by metro area: Washington-Arlington-Alexandria, DC-VA-MD-WV, Virginia Beach-Chesapeake-Norfolk, VA-NC, Richmond, VA, Lynchburg, VA.
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 Virginia?
258 loans with $7.4 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 Virginia?
The median original rate on Virginia CMBS loans originated in the 12 months to October 19, 2026 was 6.38% across 19 loans; the middle half ran from 6.25% to 6.60%. Rates depend far more on property type and leverage than on state.
How many Virginia CMBS loans mature in 2027 and 2028?
22 loans ($566 million) in 2027 and 48 ($1.9 billion) in 2028.
Financing property in Virginia?
Send the deal. Janover Capital LLC will ask CMBS, bank and life company lenders to price it.