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. This loan rounds off what has been a successful 2019 for Canada Life Investments, with real estate lending across sterling and euro loans totalling over £800m”.