Real Estate Debt Program

Our clients’ real estate debt program is managed by QuadReal Property Group – a company created and owned by BCI to manage our clients’ real estate and mortgage programs. As a significant lender to the commercial real estate industry, QuadReal provides commercial financing in Canada and the United States. The $7.9 billion portfolio (net) focuses on direct mortgage investments and includes strategic investments with best-in-class real estate owners, developers, and partners. Investments are diversified by loan size, region, and property type with a focus on industrial, office, multi-family residential, and retail.

Combined Pension Plan Real Estate Debt Program Performance1 (%)
Annualized returns for the periods ended March 31, 2023

1The Combined Pension Plan Clients reflect the investments of BCI's six largest pension clients: BC Hydro Pension Plan; College Pension Plan; Municipal Pension Plan; Public Service Pension Plan; Teachers' Pension Plan; and WorkSafeBC Pension Plan.
REAL ESTATE DEBT HOLDINGS BY PROPERTY TYPE1 (%)
As at December 31, 20222

1Undeveloped land not entitled for intended use is classified as alternatives (e.g. farmland). Pre-development land has been classified based on the intended use.

2Assets in the real estate debt program are valued annually at December 31. Returns for the program are calculated on an internal rate of return basis and benchmarks are presented on a time weighted rate of return basis. Values do not sum to 100 due to rounding.

3Residential includes multi-family rental, student housing, and seniors housing.

4Alternatives include land, hospitality, technology, data centres, storage, health care, child care, land lease and other.

Real estate equity and real estate debt are managed by QuadReal Property Group.

Established to manage BCI’s real estate equity and debt programs, QuadReal is a Canadian real estate investment, development and management company operating on a global scale. Their mandate is to deliver prudent growth and strong real estate investment returns. Within Canada, QuadReal is an established manager and developer. Globally, the company invests strategically with long-term partners offering local expertise in dynamic global cities such as New York, London, and Hong Kong. QuadReal focuses on high-quality service to tenants and residents, working with best-in-class partners, and building trusted relationships based on a foundation of trust and integrity.

Visit QuadReal.com

Investment Profile