One of the most significant challenges facing office tower owners will be either repaying the full value of the loan or finding an institution, such as a regional bank, willing to offer refinancing. 

According to a new report by the Financial Times, which references data from the Mortgage Bankers Association, $117 billion in CRE office debt needs to be repaid or refinanced this year. Much of this debt is concentrated in major cities such as Manhattan, San Francisco, Chicago, and Los Angeles.