01Size the deal
CMBS Conduit Debt in Quebec City, QC
Capitalor facts
- The Capitalor Commercial Debt Rate Index prices cmbs conduit debt in Quebec City at 5.30% indicative.
- Quebec City scores 100 on the Capitalor Lender Density Score with 36 tracked lenders and brokers.
- The average Quebec City commercial transaction of $3,400,000 supports roughly $2,210,000 of senior debt at 65% LTV.
Indicative rate
5.30%
Lender density
100
Avg deal size
$3,400,000
Cap rate seed
6.0%
Capitalor Commercial Debt Rate Index · Last updated 2026-08-12 · Maintained by Capitalor Data Desk
Scope: CMBS Conduit Debt · Quebec City, QC · Tier 1 market
Inputs: Benchmark + 215 bps spread, 36-lender census, 6.0% cap-rate seed
Next scheduled review: 2026-09-14
cmbs conduit debt in Quebec City prices off the Government of Canada 5-year benchmark bond yield plus a 215 bps cmbs conduit debt spread, landing at 5.30% indicative. Securitized fixed-rate debt with defeasance and limited flexibility. On the $3,400,000 average Quebec City transaction, a 65% advance is $2,210,000, carrying $147,267 of annual debt service on a 30-year amortization and a 10-year term.
Coverage binds before leverage here. At a mid-band 6.0% cap rate the asset throws off roughly $204,000 of NOI, which supports $2,186,702 at the 1.40x floor — about $23,298 below the 65% LTV ceiling. Underwrite to the coverage number and treat the LTV cap as a secondary test, or bring the gap in equity.
Quebec City scores 100 on the Capitalor Lender Density Score — a deep market, with 36 tracked lenders and brokers against 13,900 commercial buildings. Expect competitive tension on well-covenanted paper: quote at least three lenders before accepting a spread.
Stress the file before a lender does. Holding the $2,210,000 loan constant, coverage falls to the 1.40x floor at roughly 5.21% — 0.00% of headroom above today's indicative rate. That headroom, not the headline rate, is what determines whether this Quebec City deal survives renewal.
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.
Benchmark: GoC 5-year at 4.45% — observed from the Bank of Canada Valet API on 2026-08-12. Spread, LTV and DSCR figures on this page are modelled from that benchmark.
What does cmbs conduit debt cost in Quebec City?
Indicative pricing sits at 5.30% with a 1.40x coverage floor and 65% LTV cap. On the $3,400,000 average Quebec City deal that is $2,186,702 of proceeds, bound by coverage, at $147,267 of annual debt service.
02Stress the debt
10 observations from 2026-06-10 to 2026-08-12. Net move +0.00 percentage points. Capitalor never deletes an observation.
Loan and NOI held constant. Where the curve crosses the floor line is the rate at which this deal stops covering its debt service.
DSCR calculator
Preset to CMBS Conduit Debt, Quebec City
Annual debt service
$147,267
DSCR
1.39x
Below lender threshold
Max loan at 1.40x
$2,186,702
LTV calculator
Preset to CMBS Conduit Debt, Quebec City
Current LTV
65.0%
Inside lender band
Max loan at cap
$2,210,000
Equity required
$1,190,000
03Compare lenders
Capitalor Lender Density Score — Quebec City
Active commercial lenders and brokers per 10,000 commercial buildings, indexed 0–100.
- Lenders tracked
- 18
- Observed
- Commercial buildings
- 13,900
05Decide
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ActQuestions
What rate should I expect on cmbs conduit debt in Quebec City?
5.30% indicative — the Government of Canada 5-year benchmark bond yield plus a 215 bps cmbs conduit debt spread. Individual quotes move with covenant strength, asset quality, and sponsor track record, and Quebec City's deep lender market widens or narrows that dispersion.
How large a loan does a typical Quebec City deal support?
On the $3,400,000 average transaction, a 65% advance is $2,210,000. Coverage separately caps the loan at $2,186,702 using $204,000 of NOI against a 1.40x floor, so the binding number is $2,186,702.
Does coverage or leverage bind first on this product in Quebec City?
Coverage. The 6.0% cap rate leaves the DSCR test binding roughly $23,298 below the 65% LTV ceiling, so extra appraised value will not buy extra proceeds.
What is the annual debt service at that loan amount?
$147,267 per year — $12,272 monthly on a 30-year amortization at 5.30%, against a 10-year term.
How much rate headroom is there before the deal breaks coverage?
Roughly 0.00%. Holding the loan and NOI constant, coverage reaches the 1.40x floor at about 5.21% — the number that matters at renewal.
How many lenders write this product in Quebec City?
Capitalor tracks 36 active lenders and brokers in Quebec City, a Lender Density Score of 100 against 13,900 commercial buildings — a deep market.
Is this pricing a quote?
No. It is an index benchmark published for comparison, not an offer of credit. Capitalor does not originate, broker, or place debt.
How often does this page change?
Benchmark rate observations refresh each business day; the lender census refreshes monthly; cap-rate and transaction seeds refresh quarterly. Nothing is deleted from the series — revisions are appended so prior observations stay auditable.
Can I export these numbers?
Yes. The debt scope builder on this page exports a term-sheet-ready PDF from your own inputs. No email, no account, no gate.
Sources
- [1] Bank of Canada — benchmark rate series — Government of Canada 5-year benchmark bond yield and policy rate; refreshed each business day
- [2] Statistics Canada — census of population — Quebec City population base (549,459)
- [3] Capitalor lender census — 36 lenders and brokers observed writing in Quebec City; refreshed monthly
- [4] Capitalor transaction sampling — Quebec City average deal size $3,400,000 and 6.0% cap-rate seed
- [5] Capitalor Commercial Debt Rate Index — CMBS Conduit Debt spread of 215 bps over the 5-year benchmark
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