01Size the deal
Retail & Office Financing in Canada
Capitalor facts
- The Capitalor Commercial Debt Rate Index places retail & office financing at 5.60% indicative, a 245 bps spread over the Government of Canada 5-year benchmark.
- Typical structure: 60% LTV, 20-year amortization, 5-year term.
- The Capitalor DSCR Stress Band for this product starts at 1.35x coverage.
Indicative rate
5.60%
Typical LTV
60%
DSCR floor
1.35x
Term
5 yr
Capitalor Commercial Debt Rate Index · Last updated 2026-08-14 · Maintained by Capitalor Data Desk
Scope: Retail & Office Financing · tier 2 · 33 markets published
Inputs: GoC 5-yr benchmark + 245 bps · 60% LTV · 1.35x DSCR · 20-yr amortization
Next scheduled review: 2026-09-14
Term debt underwritten on tenant covenant and lease rollover risk.
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 Retail & Office Financing
Annual debt service
$374,516
DSCR
1.12x
Below lender threshold
Max loan at 1.35x
$3,738,161
LTV calculator
Preset to Retail & Office Financing
Current LTV
69.2%
Above lender band
Max loan at cap
$3,900,000
Equity required
$2,600,000
04Choose city
Retail & Office Financing by market
Debt service is computed on the market's average transaction at 60% LTV and 5.60% over 20 years.
| Retail & Office Financing in Toronto | 1 | 100 | 5.1% | $8,600,000 | $5,160,000 | $429,445 |
| Retail & Office Financing in Montreal | 1 | 100 | 5.4% | $6,100,000 | $3,660,000 | $304,606 |
| Retail & Office Financing in Vancouver | 1 | 100 | 4.4% | $9,800,000 | $5,880,000 | $489,367 |
| Retail & Office Financing in Calgary | 1 | 100 | 6.2% | $5,400,000 | $3,240,000 | $269,651 |
| Retail & Office Financing in Edmonton | 1 | 100 | 6.6% | $4,300,000 | $2,580,000 | $214,722 |
| Retail & Office Financing in Ottawa | 1 | 100 | 5.6% | $5,200,000 | $3,120,000 | $259,664 |
| Retail & Office Financing in Winnipeg | 1 | 100 | 6.4% | $3,600,000 | $2,160,000 | $179,768 |
| Retail & Office Financing in Quebec City | 1 | 100 | 6.0% | $3,400,000 | $2,040,000 | $169,780 |
| Retail & Office Financing in Hamilton | 1 | 100 | 5.7% | $4,100,000 | $2,460,000 | $204,735 |
| Retail & Office Financing in Mississauga | 1 | 100 | 5.2% | $6,800,000 | $4,080,000 | $339,561 |
| Retail & Office Financing in Brampton | 1 | 100 | 5.4% | $5,100,000 | $3,060,000 | $254,671 |
| Retail & Office Financing in Surrey | 1 | 100 | 4.9% | $5,900,000 | $3,540,000 | $294,619 |
| Retail & Office Financing in Halifax | 2 | 100 | 5.8% | $3,900,000 | $2,340,000 | $194,748 |
| Retail & Office Financing in London | 2 | 100 | 6.1% | $3,200,000 | $1,920,000 | $159,793 |
| Retail & Office Financing in Victoria | 2 | 100 | 4.8% | $4,600,000 | $2,760,000 | $229,703 |
| Retail & Office Financing in Kitchener | 2 | 100 | 5.9% | $3,500,000 | $2,100,000 | $174,774 |
| Retail & Office Financing in Burnaby | 2 | 100 | 4.6% | $7,200,000 | $4,320,000 | $359,535 |
| Retail & Office Financing in Saskatoon | 2 | 100 | 6.7% | $2,900,000 | $1,740,000 | $144,813 |
| Retail & Office Financing in Regina | 2 | 100 | 6.9% | $2,600,000 | $1,560,000 | $129,832 |
| Retail & Office Financing in Windsor | 2 | 100 | 6.5% | $2,700,000 | $1,620,000 | $134,826 |
| Retail & Office Financing in Laval | 2 | 100 | 5.6% | $4,200,000 | $2,520,000 | $209,729 |
| Retail & Office Financing in Gatineau | 2 | 100 | 6.0% | $3,100,000 | $1,860,000 | $154,800 |
| Retail & Office Financing in Vaughan | 2 | 100 | 5.2% | $6,200,000 | $3,720,000 | $309,600 |
| Retail & Office Financing in Markham | 2 | 100 | 5.1% | $5,900,000 | $3,540,000 | $294,619 |
| Retail & Office Financing in Oshawa | 2 | 100 | 6.0% | $3,100,000 | $1,860,000 | $154,800 |
| Retail & Office Financing in Barrie | 2 | 100 | 6.1% | $2,900,000 | $1,740,000 | $144,813 |
| Retail & Office Financing in St. Catharines | 2 | 100 | 6.3% | $2,600,000 | $1,560,000 | $129,832 |
| Retail & Office Financing in Longueuil | 2 | 100 | 5.8% | $3,300,000 | $1,980,000 | $164,787 |
| Retail & Office Financing in Coquitlam | 2 | 100 | 4.8% | $5,200,000 | $3,120,000 | $259,664 |
| Retail & Office Financing in Terrebonne | 2 | 100 | 6.1% | $2,100,000 | $1,260,000 | $104,864 |
| Retail & Office Financing in Waterloo | 2 | 100 | 5.8% | $2,500,000 | $1,500,000 | $124,839 |
| Retail & Office Financing in Chatham-Kent | 2 | 100 | 7.0% | $2,300,000 | $1,380,000 | $114,851 |
| Retail & Office Financing in Delta | 2 | 100 | 5.0% | $2,900,000 | $1,740,000 | $144,813 |
ActQuestions
What rate does retail & office financing carry today?
The Capitalor Commercial Debt Rate Index shows 5.60% indicative, a 245 bps spread over the GoC 5-year benchmark.
What does retail & office financing cost to service per $1M borrowed?
$83,226 a year at 5.60% over 20 years. That is servicing cost only — premiums, fees, and prepayment terms sit outside it.
How much equity will a lender expect?
At 60% LTV the sponsor funds the remaining 40% plus closing costs.
Which coverage ratio clears credit?
1.35x 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 retail & office financing data?
33. Tier 2 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