Refinancing for Senior Secure Debt

A lot of buildings have one very low rates and the cash flows are way down. So about 175 billion of all this real estate is going to be refinanced this year, 150 billion next year. Even if we assume multiples remain the same, won't there be some serious issue in refinancing? Does a senior secure debt will have to be refinance at much higher coupon benches? These yields are somewhere two to three.