Canada Life provides $185m of financing to LXi REIT

Canada Life Asset Management has provided a £148 million ($185 million) loan to LXi REIT, a real estate investment trust based in London.

The loan will refinance a mixed-use, U.K. regional portfolio of commercial property assets, typically leased on inflation-linked, long-term leases.

“We are very pleased to establish a new long-term relationship with LXi REIT,” said Mark Dunstan, director, real estate finance at Canada Life. “The portfolio securing the loan offers good diversification and strong, long-term income streams. LXi’s focus on long-term investment opportunities is well aligned with our investment approach.”