Bentall Kennedy (Canada) LP held a C$305 million final close for the Bentall Kennedy High Yield Canadian Property Fund I LP.
Sun Life Assurance Co. of Canada, which is among the nine institutional investors, committed C$30 million to the fund.
The fund will invest in high-ratio first mortgages, mezzanine loans, land loans, second mortgages and participating debt. It has made C$112.2 million in total loan commitments so far, with financings in Vancouver, Toronto, Montreal and Calgary.
Bentall Kennedy (Canada) is part of real estate investment adviser Bentall Kennedy Group, a Sun Life Investment Management company.