Canada Life Asset Management has completed a bespoke real estate loan totalling £286 million for a private client, split across three co-terminus tranches and secured by a multi-jurisdiction portfolio of UK and US real estate.
The long-term fixed rate financing runs until 2034 and is secured against a highly diversified portfolio of prime real estate located on London’s Bond Street and Manhattan’s Madison Avenue at a sub 50% LTV.
Canada Life Asset Management was advised by Taylor Wessing LLP (UK counsel), Holland & Knight LLP (US counsel) and Knight Frank’s valuation team.
Nicholas Bent, Head of Real Estate Finance, said: “This loan demonstrates Canada Life Asset Management’s ability to offer bespoke financing solutions to meet our borrowers needs and our ongoing capability to fund larger transactions within the commercial property lending market.”
Canada Life Asset Management’s property lending business has a 30-year track record within the UK and has further expanded its lending ambitions over recent years, now targeting £1 billion of new lending each year. All of Canada Life Asset Management’s loans are managed in-house by its dedicated London team.
Please note that while Canada Life Asset Management and Canada Life Limited are regulated as stated in the below website footer, property management and the provision of commercial mortgages are not regulated activities.