Canada Life Investments confirms the completion of two fixed-rate loans totalling £108m with CBRE Global Investors.
The interest-only loans have terms of five and seven years respectively and were drawn at conservative LTVs. The first loan is secured against a number of prime retail units on Regent Street, London, and include Hackett’s flagship store, Links of London and Church’s. The second loan is secured against the Angel Central shopping centre in Islington, a diverse multi-let asset with key tenants including Vue Cinemas, H&M, GAP, Tiger, the O2 Academy and Argos.
Nicholas Bent, Head of Real Estate Finance at Canada Life Investments, said: “We are very pleased to have begun this new relationship with such a well-respected sponsor and we look forward to working with them in the future. The addition of CBRE Global Investors is consistent with our strategy of growing the loan book by lending to established borrowers with high quality real estate assets in the UK and Europe.”
This is the latest in a series of sizeable loans which Canada Life Investments has provided to UK real estate property vehicles, where attractive fixed rate lending terms provide borrowers with flexibility for ongoing property fund management, supported by strong underlying real estate and experienced asset managers.
CBRE Global Investors is one of the world’s largest real estate investment management firms with $86.6 billion in assets under management as at 31 December 2016.
CBRE Debt and Structured Finance team advised CBRE Global Investors.
For further information, please contact:
Head of Media and PR
T: 07833 085387
Notes to editors
About Canada Life Investments
Canada Life Investments is a UK-based asset manager responsible for managing more than £35bn of equities, fixed income and property*. We have been active in the UK for more than 100 years,
having first established our life insurance business here in 1903. Our focus is on the long term and we believe that active management is the best way to add value for our clients and generate superior returns.
Our parent company, Great-West Lifeco, is one of Canada’s largest financial companies with over £750bn consolidated assets under administration*. By being part of a much larger group, we are able to draw on a pool of expertise and resources that enable us to better serve our clients and help them to meet their objectives. At the heart of our business is a range of investment solutions designed to meet investors’ needs. We have expertise investing in equities, fixed income and property, and offer a range of open-ended funds (OEICs) that cover UK and international equities and bonds, as well as multi-asset solutions.
Our 58-strong team of investment professionals is based in the heart of the City of London and has extensive experience across all of the major asset classes. With an average tenure of nine years with the company, our managers work in a tight-knit atmosphere that fosters the sharing of ideas and allows for empowered decision-making.
*As at 31/12/16
For more information, visit www.canadalifeinvestments.com
CLI00756 expiry on 02 August 2017