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    Market Insights

    Commercial Real Estate Insightsfor Alberta & British Columbia

    Cap rate movement, lender benchmarks, and financing intelligence across Edmonton, Calgary, Vancouver, Kelowna, Victoria, and Red Deer — curated by Max Capital Financial’s commercial brokerage team.
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    Lender Benchmarks

    2026 commercial financing parameters.

    Conventional Commercial LTV

    Up to 75%

    CMHC MLI Select LTV

    Up to 95%

    Min DSCR (Conventional)

    1.20× – 1.30×

    Min DSCR (CMHC Insured)

    1.10× – 1.20×

    Amortization (Conventional)

    25 – 30 yrs

    Amortization (MLI Select)

    Up to 50 yrs

    Regional Snapshots

    Cap rates and lender appetite by market.

    A current read on commercial cap rate ranges and where lenders are leaning across our core Alberta and BC markets.

    Stable

    Edmonton

    Cap Rate Range
    5.75% – 6.50%
    Multifamily demand holding firm; CMHC MLI Select dominating new builds.
    Edmonton financing
    Compressing

    Calgary

    Cap Rate Range
    5.50% – 6.25%
    Industrial and multifamily leading; population growth supporting rents.
    Calgary financing
    Tight

    Vancouver

    Cap Rate Range
    3.75% – 4.75%
    Land-constrained; purpose-built rental and mixed-use remain lender favourites.
    Vancouver financing
    Firming

    Kelowna

    Cap Rate Range
    4.75% – 5.75%
    Okanagan migration supporting rental fundamentals across asset classes.
    Kelowna financing
    Stable

    Victoria

    Cap Rate Range
    4.25% – 5.25%
    Constrained supply; strong multifamily and mixed-use lender appetite.
    Victoria financing
    Opportunistic

    Red Deer

    Cap Rate Range
    6.50% – 7.50%
    Higher cap rates and DSCR-friendly pricing for value-add investors.
    Red Deer financing

    Featured Insights

    Strategy, structure, and lender intelligence.

    Cap Rate Outlook 2026

    Stabilization across most Alberta and BC markets, with selective compression in industrial and multifamily.

    Read full report

    CMHC MLI Select Scoring

    How to stack energy, accessibility, and affordability points to unlock 95% LTV and 50-year amortizations.

    MLI Select guide

    Private Lending Window

    When speed, repositioning, or non-conforming assets make private capital the right bridge to bank or CMHC.

    Private lending insights

    Construction Draw Strategy

    Structuring land, interim, and take-out facilities so your draw schedule stays funded through completion.

    Construction playbook

    Refinance to Unlock Equity

    Using appraisal gains, NOI growth, and CMHC take-out to recapitalize without selling the asset.

    Refinance strategies

    Commercial Underwriting 101

    LTV, DSCR, amortization, and lender expectations for commercial property financing across Western Canada.

    Underwriting guide

    Our Methodology

    What we track, every month.

    Our insights are built from active deal flow — not third-party aggregators. Every quarter we update cap rate ranges, lender pricing, and underwriting parameters based on the term sheets and commitments crossing our desk.

    Live Lender Pricing

    Spreads over GoC bonds and prime, tracked weekly across bank, credit union, life co, and CMHC channels.

    Cap Rate Ranges

    Asset-class specific cap rates from active transactions in Alberta and BC primary and secondary markets.

    Rent & Vacancy Fundamentals

    Multifamily, industrial, retail, and office rent growth and vacancy data driving underwritten NOI.

    Get a Market Briefing

    Underwrite your next deal with current data.

    Tell us the market, asset class, and deal size — we’ll send a tailored insights brief and a preliminary financing structure.
    Request a Briefing
    Call 780-306-4242
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