CANADA LIFE INVESTMENTS COMPLETES TWO REAL ESTATE FINANCE LOANS WITH CBRE GLOBAL INVESTORS

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.

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