DBRS Assigns Rating of BBB (low) to 9279-5129 Quebec Inc. (L’Hexagone) Mortgage Loan

DBRS Limited (DBRS) assigned a new rating of BBB (low) to the 2.59% Mortgage Loan due July 1, 2021 (the Mortgage Loan), made to 9279-5129 Quebec Inc. (L’Hexagone) by a major Canadian financial institution (the Lender).

The Mortgage Loan is secured by a 257-unit, Class A apartment building located at 1140 Wellington Street (the Property or L’Hexagone) in the Griffintown district of Montréal, Québec. DBRS’s BBB (low) rating reflects the stability of the net cash flow provided by the in-place rental income, combined with the Property’s strong location within a historic neighbourhood in Montréal and approximately 10% amortization that will take place over the term of the loan.

The rating has been assigned at the request of the Lender.

Notes:
The principal methodology is the North American Single-Asset/Single-Borrower Methodology, which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did not participate in the initial rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.