How brokers can capitalize on commercial real estate’s distress cycle
“I think a lot of 21, 22 vintage loans that are 5-year or maybe they were 10-year but only had an interest rate cap that lasted three to five years, all of those sorts of loans are problems that operators are having to deal with right now,” Snyder said. “And I do think that a lot of that presents opportunities for mortgage brokers.”
The maturity wall will generate volume, Snyder said, but not all of it deserves equal attention.
“On net, I believe that’ll create opportunities for mortgage brokers because a lot of that maturity wall will translate into refinance or sales volume,” he said. “But not all of that maturity wall volume is going to be created equal. Some of it will be green light, clear refinancing opportunities, stable NOI. But others are going to need specialized capital, and maybe there are some deals where the operator’s running low on reserves, and they need preferred equity or mezzanine financing.”
Lender competition is increasing, and Snyder said the question for the second half of 2026 is how that manifests.
“Is that going to be more loan proceeds, is it going to be fewer restrictive covenants, is it going to be more non-recourse loans?” he said. “How exactly will lenders begin to compete with each other more?”
