Great-West Life Real Estate Fund

Established in 1981, the Great-West Life Real Estate Fund is one of Canada’s largest real estate segregated funds. The Great-West Life Real Estate Fund (also known as the Canadian Real Estate Investment Fund No. 1 (or CREIF)) invests in a portfolio of 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 March 31, 2024

$6.3B

in real estate assets

$6.6B

in total assets

120

properties

Source of return

2015201620172018201920202021202220232024
Income 4.5%4.5%4.5%4.3%4.2%3.8%3.7%3.3%3.5%1.0%
Capital 0.1%0.9%1.8%2.7%4.9%(1.3)%7.8%3.9%(6.5)%(0.7)%
Total 4.7%5.4%6.3%7.1%9.2%2.5%11.6%7.2%(3.0)%0.3%

Compound rates of return

(gross of investment management fees)
Three Month 0.3%
Year-to-date 0.3%
One Year (1.9)%
Three Year 4.5%
Five Year 5.0%
Ten Year 5.6%

Diversification by property type

By property type (millions)

Retail 9.1% $ 565
Office 25.2% $ 1,568
Industrial 29.6% $ 1,845
Residential 28.6% $ 1,783
Other 7.5% $ 464

Diversification by region

By region (millions)

British Columbia 10.4% $ 649
Alberta 10.4% $ 649
Prairies 1.1% $ 67
Ontario 67.9% $ 4,230
Quebec 9.3% $ 579
Atlantic 0.7% $ 43
U.S. 0.2% $ 10

Quarterly Highlights

Q1 2024 Great-West Life Real Estate Fund Bulletin

For the first quarter in 2024, the Canadian Real Estate Fund No.1 posted a 26-basis point total return. Overall portfolio occupancy remained strong and continues to be a good predictor of future income performance, which totalled 96 basis points in Q1. Additional updates from the period follow below.

Abbotside Way, Caledon, ON
300 McRae, Ottawa, ON
Vancouver Centre II, Vancouver, BC
185 Enfield Place, Mississauga, ON
50 Prince Arthur, Toronto, ON
33 Yonge Street, Toronto, ON

Downloads

Latest annual report

Latest bulletin

Past Performance Reports

Quarterly Bulletins

Q1 2024 Bulletin PDF (1 MB)
Q4 2023 Bulletin PDF (399 KB)
Q3 2023 Bulletin PDF (992 KB)
Q2 2023 Bulletin PDF (1 MB)

Annual Reports

Canadian Real Estate Investment Fund – Annual Report 2022 PDF (7 MB)
Canadian Real Estate Investment Fund – Annual Report 2021 PDF (5 MB)
Canadian Real Estate Investment Fund – Annual Report 2020 PDF (3 MB)
Canadian Real Estate Investment Fund – Annual Report 2019 PDF (6 MB)
Canadian Real Estate Investment Fund – Annual Report 2018 PDF (5 MB)

Want to Invest?

Contact a Great-West Life advisor to invest in the Great-West Life Real Estate Fund.