London, UK – Canada Life Investments is delighted to announce that it has increased its European real estate loan exposure with a €16m, 30% LTV loan to support German-based Quadoro Investment GmbH’s recent acquisition of Allianz House in Dublin. The loan, which runs for a seven-year term on an interest-only basis, follows Canada Life Investment’s recent €40m re-financing of a portfolio of commercial properties in the Netherlands in September.
Allianz House is a high quality and well-designed office building situated on the Elmpark Green campus on Merrion Road, Dublin, a mixed-use scheme, home to other international corporates and with residential and leisure uses. The eight-story property is the Irish headquarters of financial services provider Allianz PLC and is fully let to them on a long-term lease. It also fits well within Quadoro’s sustainable investment strategy.
Nicholas Bent, Head of Real Estate Finance at Canada Life Investments, added “This European loan helps to further establish the company’s Eurozone lending platform which has been a priority for the team. Quadoro’s appetite for high quality real estate in core Eurozone markets is well aligned to Canada Life Investment’s lending model. We hope to continue to grow our loan exposure in this market in 2020. Thisloan rounds off what has been a successful 2019 for Canada Life Investments, with real estate lending across sterling and euro loans totalling over £800m”.
ENDS
For press and all media enquiries, please contact:
Paul Keeble
Head of Media and PR
Canada Life
T: 07833 085387
E: paul.keeble2@canadalife.co.uk
Notes to Editors:
About Canada Life Investments
- Heritage, size & stability – founded in 1847, our parent business is part of the Great-West Life Group, which has over £980 billion in assets under administration. In our 100-strong London office, Canada Life Investments manages more than £38 billion in fixed income, property, real estate finance, and equities, as well as a comprehensive multi-asset range.
- A long-term business – the very nature of our business is long-term. We have been building longterm relationships with our customers in the UK since 1903, demonstrated by our annuity customers and our fund propositions, which are targeted at long-term solutions.
- A customer focus – Canada Life Investments is built on the needs of the customer. We want our clients to invest with us for the long-term, trusting us as custodians of their money. Our products are designed to deliver what our clients expect.
- Wide-ranging expertise – our team of investment professionals has an extensive track record across a wide range of assets, including bonds, equities, private placements and unlisted transactions. Our award-winning property team also manages both direct property investments and commercial mortgages, while our real estate finance specialists have been providing finance solutions for acquisitions of good quality assets for over 25 years
- We offer solutions – we understand the challenges our clients face, from regulatory issues to investment selection. Be it fixed income, property or equities we believe we are well-placed to help our clients navigate the market through a varied suite of products. These include domestic and international bonds and equities, UK commercial property and a comprehensive multi-asset range, which includes a set of risk-target managed funds that focus explicitly on client suitability
As at 30/09/2019
The value of investments may fall as well as rise and investors may not get back the amount invested.
Canada Life Investments is the brand for investment management activities undertaken by Canada Life Asset Management Limited, Canada Life Limited and Canada Life European Real Estate Limited. Canada Life Asset Management Limited (no. 03846821), Canada Life Limited (no.00973271) and Canada Life European Real Estate Limited (no. 03846823) are all registered in England and the registered office for all three entities is Canada Life Place, Potters Bar, Hertfordshire EN6 5BA. Canada Life Asset Management Limited is authorised and regulated by the Financial Conduct Authority. Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Please note that while Canada Life Asset Management and Canada Life Limited are regulated as stated above, property management and the provision of commercial mortgages are not regulated activities.
CLI01545 Expiry 31/12/2020