BCI and partners creating Canadian real estate fund
The British Columbia Investment Management Corp. is teaming up with RBC Global Asset Management Inc. and QuadReal Property Group on a project involving $7 billion worth of commercial real estate.
The venture will bring together more than 40 of the BCI’s existing Canadian real estate assets in one portfolio. The BCI and the newly minted RBC Canadian core real estate fund will function as co-owners of the portfolio’s properties, inviting other institutional investors to buy into the fund as an income-producing real estate strategy. QuadReal, an operation established and owned by the BCI, will oversee management of the properties.