Bentall Kennedy responds to growing appetite for direct real estate investment opportunities in workplace pension and savings plans
TORONTO, Nov. 6, 2013 /CNW/ - Bentall Kennedy, one of North America's largest real estate investment advisors and Canada's largest property manager, announced today the launch of a new real estate investment fund. The Bentall Kennedy Canadian Real Estate Plus fund ("Canadian Real Estate Plus") is a diversified investment vehicle that provides exposure to direct commercial real estate investments and has more liquidity than traditional direct real estate investing.
Canadian Real Estate Plus is now available to members of defined contribution pension and savings plans provided by Sun Life Financial.
"This is an exciting new venture for us," said Gary Whitelaw, Chief Executive Officer of the Bentall Kennedy Group of Companies. "Throughout our 100 plus year history, we have been fortunate to be able to help a wide range of institutional investors accomplish their investment goals through real estate. This new vehicle gives us the opportunity to meet the needs of group retirement plan members in the same way."
Canadian Real Estate Plus has two objectives - first, to provide stable income returns for plan members and, second, to offer value appreciation potential through the members' investment in a diversified mix of office, industrial, retail, multi-family residential and other income producing properties, and land held for development, in Canada.
The Canadian Real Estate Plus portfolio will primarily be allocated to a $3.5 billion diversified portfolio of Canadian commercial real estate managed by Bentall Kennedy. This real estate portfolio has been open only to institutional investors since its inception in 1983, and Canadian Real Estate Plus is the first product that allows group retirement plan members access to these institutional-quality investments.
With its primary allocation to direct investments in real estate, Canadian Real Estate Plus enables investors to gain exposure to direct real estate investments with significantly less exposure to general stock market fluctuations than an investment in real estate investment trusts ("REITs").
The balance of the Canadian Real Estate Plus portfolio is allocated to cash equivalents and securities that track a portfolio of REITs. This is intended to permit plan members to purchase and redeem their investments through Sun Life Financial on a daily basis.
"Sun Life has been a terrific partner in the development of this product," said Chris Lawrence, Executive Vice President of Bentall Kennedy. "We are thankful to be launching Canadian Real Estate Plus on their best-in-class group retirement platform."
About BKC Capital Inc.
BKC Capital Inc., a subsidiary of Bentall Kennedy, is responsible for portfolio management of Canadian Real Estate Plus.
Bentall Kennedy (Canada) Limited Partnership ("Bentall Kennedy") is one of North America's largest real estate investment advisors and Canada's largest property manager, providing comprehensive real estate services to our clients. Bentall Kennedy serves the interests of more than 500 clients invested in office, retail, industrial, and multi-family residential properties totaling more than $30 billion and 145 million square feet in assets under management throughout North America. Bentall Kennedy is a leader in Responsible Property Investing, and is committed to best-in-class environmental, social and governance practices in developing, leasing and managing commercial real estate.
The Bentall Kennedy Group includes Bentall Kennedy (Canada) Limited Partnership and Bentall Kennedy (U.S.) Limited Partnership.
SOURCE Bentall Kennedy