London Life Real Estate Fund
The London Life Real Estate Fund was launched in 1998 to create a vehicle for direct real estate investment. The Fund invests in high-quality, income-producing properties diversified by type and location. The objective is to provide investors with strong income returns and the opportunity for long-term capital appreciation.
Fund Performance
as of December 31, 2023
$3.3B
in real estate assets
$3.7B
in total assets
81
properties
Source of return
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
Income | 4.3% | 4.0% | 4.5% | 4.4% | 4.2% | 4.2% | 3.9% | 3.4% | 3.4% | 3.8% |
Capital | 1.7% | 0.4% | 0.8% | 0.9% | 2.1% | 5.5% | (1.1)% | 13.1% | 3.5% | (6.8)% |
Total | 6.0% | 4.5% | 5.3% | 5.3% | 6.3% | 9.7% | 2.7% | 16.5% | 6.9% | (3.0)% |
Compound rates of return
(gross of investment management fees)
Three Month | (2.9)% |
Year-to-date | (3.0)% |
One Year | (3.0)% |
Three Year | 6.5% |
Five Year | 6.4% |
Ten Year | 5.9% |
Diversification by property type
By property type (millions)
Retail | 10.9% | $ | 360 |
Office | 29.6% | $ | 978 |
Industrial | 31.8% | $ | 1,053 |
Residential | 24.3% | $ | 802 |
Other | 3.3% | $ | 114 |
Diversification by region
By region (millions)
British Columbia | 22.3% | $ | 739 |
Alberta | 9.9% | $ | 329 |
Prairies | 0.6% | $ | 19 |
Ontario | 56.6% | $ | 1,873 |
Quebec | 8.2% | $ | 271 |
Atlantic | 2.2% | $ | 74 |
U.S. | 0.1% | $ | 4 |
Quarterly Highlights
Q4 2023 London Life Real Estate Fund Bulletin
The total gross return for 2023 was -3.04% as capital returns were significantly impacted by a decline in asset values attributable to elevated borrowing costs and a negative mark to market on the Funds debt. Income returns remained within target range as occupancy across the portfolio averaged better than 90% for the year.
Brewery Development Site, Edmonton, AB
1188 West Georgia, Vancouver, BC
Goreway Business Park, Brampton, ON
185 Enfield Place, Mississauga, ON
Downloads
Latest bulletin
Past Performance Reports
Quarterly Bulletins
Q4 2023 Bulletin |
|
Q3 2023 Bulletin |
|
Q2 2023 Bulletin |
|
Q1 2023 Bulletin |
|
Want to Invest?
Contact a London Life advisor to invest in the London Life Real Estate Fund.