01Size the deal
CMBS Conduit Debt in Canada
Capitalor facts
- The Capitalor Commercial Debt Rate Index places cmbs conduit debt at 5.30% indicative, a 215 bps spread over the Government of Canada 5-year benchmark.
- Typical structure: 65% LTV, 30-year amortization, 10-year term.
- The Capitalor DSCR Stress Band for this product starts at 1.40x coverage.
Indicative rate
5.30%
Typical LTV
65%
DSCR floor
1.40x
Term
10 yr
Capitalor Commercial Debt Rate Index · Last updated 2026-08-14 · Maintained by Capitalor Data Desk
Scope: CMBS Conduit Debt · tier 3 · 12 markets published
Inputs: GoC 5-yr benchmark + 215 bps · 65% LTV · 1.40x DSCR · 30-yr amortization
Next scheduled review: 2026-09-14
Securitized fixed-rate debt with defeasance and limited flexibility.
How these figures were produced
- Observed — Recorded directly from the cited source series, unadjusted.
- Modelled — Derived arithmetically from observed inputs using the published method; not a market quote.
- Baseline seed — A documented starting estimate awaiting first observation. Treat as an order-of-magnitude figure only.
02Stress the debt
DSCR calculator
Preset to CMBS Conduit Debt
Annual debt service
$299,865
DSCR
1.40x
Within Capitalor DSCR Stress Band
Max loan at 1.40x
$4,502,033
LTV calculator
Preset to CMBS Conduit Debt
Current LTV
69.2%
Above lender band
Max loan at cap
$4,225,000
Equity required
$2,275,000
04Choose city
CMBS Conduit Debt by market
Debt service is computed on the market's average transaction at 65% LTV and 5.30% over 30 years.
| CMBS Conduit Debt in Toronto | 1 | 100 | 5.1% | $8,600,000 | $5,590,000 | $372,498 |
| CMBS Conduit Debt in Montreal | 1 | 100 | 5.4% | $6,100,000 | $3,965,000 | $264,214 |
| CMBS Conduit Debt in Vancouver | 1 | 100 | 4.4% | $9,800,000 | $6,370,000 | $424,475 |
| CMBS Conduit Debt in Calgary | 1 | 100 | 6.2% | $5,400,000 | $3,510,000 | $233,894 |
| CMBS Conduit Debt in Edmonton | 1 | 100 | 6.6% | $4,300,000 | $2,795,000 | $186,249 |
| CMBS Conduit Debt in Ottawa | 1 | 100 | 5.6% | $5,200,000 | $3,380,000 | $225,232 |
| CMBS Conduit Debt in Winnipeg | 1 | 100 | 6.4% | $3,600,000 | $2,340,000 | $155,930 |
| CMBS Conduit Debt in Quebec City | 1 | 100 | 6.0% | $3,400,000 | $2,210,000 | $147,267 |
| CMBS Conduit Debt in Hamilton | 1 | 100 | 5.7% | $4,100,000 | $2,665,000 | $177,586 |
| CMBS Conduit Debt in Mississauga | 1 | 100 | 5.2% | $6,800,000 | $4,420,000 | $294,534 |
| CMBS Conduit Debt in Brampton | 1 | 100 | 5.4% | $5,100,000 | $3,315,000 | $220,900 |
| CMBS Conduit Debt in Surrey | 1 | 100 | 4.9% | $5,900,000 | $3,835,000 | $255,551 |
ActQuestions
What rate does cmbs conduit debt carry today?
The Capitalor Commercial Debt Rate Index shows 5.30% indicative, a 215 bps spread over the GoC 5-year benchmark.
What does cmbs conduit debt cost to service per $1M borrowed?
$66,637 a year at 5.30% over 30 years. That is servicing cost only — premiums, fees, and prepayment terms sit outside it.
How much equity will a lender expect?
At 65% LTV the sponsor funds the remaining 35% plus closing costs.
Which coverage ratio clears credit?
1.40x is the floor in the Capitalor DSCR Stress Band for this product. Below it, proceeds are cut until coverage clears rather than the file being repriced.
In how many Canadian markets does Capitalor publish cmbs conduit debt data?
12. Tier 3 products publish only in markets deep enough to support them, so the count is deliberately short of all 66 tracked markets.
Sources
- [1] Bank of Canada valet API — GoC 5-year benchmark
- [2] Capitalor lender term sampling — LTV, DSCR, amortization norms
Not advice — Capitalor is a data publisher. We do not originate, broker, arrange, or place debt, and nothing here is an offer of credit, a quote, or financial advice. Figures are indicative benchmarks for comparison and must be confirmed with a licensed lender or mortgage professional before you rely on them. About Capitalor