Canada Life sees “further demand for long-term, fixed- rate debt, as interest rates remain low”, according to London-based business development director Colin Humphries. The London office recently provided a £200m, 20 year- loan for a private investor’s prime central London property portfolio – its largest real estate financing to date – at a leverage level thought to be 65%.
Canada Life targets £400m- 500m of new business per year in the UK. In April it issued a £134.75m, 15-year, fixed-rate loan for UK REIT Shaftesbury. Other £100m-plus deals it has underwritten lately include a £113.7m, 15-year loan for Picton Property Income and a £129.5m, 15-year facility for Schroder REIT.