Brookfield and QIA invest €458m in long-term commitment to Canary Wharf Group
Canary Wharf Group (CWG), the developer of the largest urban regeneration project in Europe, has announced that its shareholders, Brookfield and the Qatar Investment Authority, have committed £400 million (€458 million/$485 million) to the company by way of a £300 million (€343 million/$364 million) equity subscription and a £100 million (€114 million/$121 million) revolving credit facility. The proceeds will be used to complete the strategic repositioning of Canary Wharf and build out additional residential and life sciences projects on the estate. It follows the successful £309 million (€354 million/$375 million) refinancing of the Newfoundland residential property in March 2023.
CWG owns a high-quality portfolio comprising 33 highly rated sustainable properties, with 3,500 people living at Canary Wharf and more than 54 million visitors last year. As of June 30, 2023, Canary Wharf Group Investment Holdings plc (CWGIH) had £3.3 billion (€3.78 billion/$4 billio