Canada Life Asset Management has made its first German real estate financing by providing a €19.5m loan to Aviva Investors for a logistics hub acquisition.

The deal represents the first transaction between the two parties.

The five-year loan is secured against a newly-developed fully-let logistics hub located in the ConneKT Logistics Park in the Kitzingen region of Bavaria, an asset that Aviva Investors acquired from Scannell Properties back in February on behalf of its perpetual capital portfolio.

Nicholas Bent, the head of real estate finance at Canada Life Asset Management, said: “We are delighted to begin a new lending relationship with Aviva Investors and complete our first transaction with the team.

“The facility, which is our first in Germany, supports the growth of our European lending platform and demonstrates our ability and appetite to support best-in-class sponsors investing in high-quality sectors. We look forward to building the relationship with Aviva Investors further.”

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