Cortland has secured a £129 million fixed-rate loan from Canada Life Asset Management to refinance its 50-storey build-to-rent tower at Colliers Yard in Salford, Greater Manchester. The facility replaces Cortland’s existing debt on the recently completed scheme, which comprises 559 apartments and resident amenity space, and marks the first transaction between Cortland and Canada Life Asset Management.

The loan is structured as a fixed-rate real estate facility and is secured against the Colliers Yard tower. The asset represents a landmark residential development in Greater Manchester, situated close to the city centre.

The refinancing demonstrates continuing lender appetite for large-scale build-to-rent developments in the region, with Canada Life Asset Management emphasizing the quality and strategic location of the property. Cortland sees the transaction as a signal of strong investor confidence in both the Colliers Yard scheme and the broader Manchester residential market.