According to Trepp's analysis, September's private-label CMBS hard maturities amount to $2.74 billion across 100 whole loans, a decrease from $5.49 billion in August. However, the refinance profile is weaker, with 26.96% of the maturing balance having a current debt yield below 6%, up from 18.13% last month, which Trepp classifies as severely impaired. Retail properties show the sharpest severe impairment, while office properties account for most special servicing exposure in this cohort.