Canada Life Asset Management has provided UK property firm SG Rocks with an £18m (€21.7m), five-year, fixed-rate loan for the acquisition of York House, a multi-let office building at Kingsway in Central London.
London-focused SG Rocks, which previously acquired 10-16 Bevis Marks and 1-7 Livonia Street in Soho, has now completed its first transaction with Canada Life Asset Management the loan, with York House as its third acquisition.
Nicholas Bent, head of real estate finance at Canada Life Asset Management, said: “This financing reflects the strength of our asset base and our ability to provide competitive funding in the market. The prime location and quality of the underlying property played a key role in this transaction, and we are pleased to begin a new relationship with SG Rocks to support their growth in the UK office market whilst meeting the short acquisition timescales.
“We are excited to continue expanding our presence in the real estate finance market and look forward to realising our lending ambitions in the year ahead and beyond.”
Doron Lavi Segelson, CEO at SG Rocks, said: “We are pleased to complete our first collaboration with Canada Life Asset Management and look forward to building on this relationship in 2025 and beyond. The process was executed professionally and on time, thanks to the dedication and support of their team.
“Together with Canada Life, we will be implementing a comprehensive improvement programme to enhance the building’s design, amenities, and energy performance, ensuring it meets the highest market standards for the future.”
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