QuadReal Property Group (“QuadReal”), a global real estate investment, development and operating company, is pleased to announce today the successful issuance of $400 million, 4.051% Series 1 Senior Notes maturing November 17, 2029 (the “Senior Notes”) issued by BCI QuadReal Realty Trust (“BQRT”). Effective January 1, 2026, BQRT became the successor issuer of BCI QuadReal Realty (“BQR”) and serves as the primary issuing entity of unsecured notes for British Columbia Investment Management Corporation’s (“BCI”) real estate program. BCI is a Canadian leader in investment fund management that provides services to British Columbia’s public sector.
The Senior Notes were issued under QuadReal’s Green Bond Framework, established in July 2020.
“We are very pleased with the strong reception to our return to the capital markets, particularly as this marks the inaugural issuance for BQRT. The continued support of our longstanding investors, alongside the participation of new investors, reflects confidence in our business, financial strength and long-term strategy,” said Tamara Lawson, QuadReal’s Chief Financial Officer. “We greatly value these investor relationships and look forward to building on the momentum of this successful issuance in future capital markets transactions.”
The Senior Notes were offered on a private placement basis to accredited investors in Canada and are rated AA (low) with a stable trend by DBRS Limited (Morningstar DBRS). The offering was made on an agency basis by a syndicate of agents co-led by CIBC World Markets Inc. and TD Securities Inc. Additionally, BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Desjardins Securities Inc., SMBC Nikko Securities Canada, Ltd. and Wells Fargo Securities Canada, Ltd. served as co-managers.
