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Bentall Kennedy raises C$305M for Canadian property fund

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.