The CRE maturity wall was created by the increase in interest rates from the Federal Reserve starting in 2022. The increase in rates caused banks to ‘extend and pretend’ hoping that the Fed would eventually bring down rates making it easier to renew and roll over existing CRE loans. This action pushed CRE maturities out to 2025 through 2027. The CRE maturity wall continues to shift with 2026 now becoming a big year. This episode reviews two articles from S&P Global (subscription required) titled “Modified loan reporting change to cloud investors’ view of bank credit quality” and “Extensions shift the CRE maturity wall, but 2026 could now be a tougher year.”