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Sign in Sign up for a FREE subscriptionGIC in talks to acquire stake in $1.5b portfolio
Singapore’s sovereign wealth fund, GIC, is in talks to acquire a majority stake in Oxford Properties Group’s Fairmont portfolio, which comprises four of Canada’s most iconic hotels, according to media outlets, sourcing people familiar with the matter.
The portfolio is estimated to be valued at C$2 billion ($1.5 billion).
Oxford will retain a minority stake in the assets and manage the properties.
Oxford is the real estate arm of Canadian pension fund Ontario Municipal Employees Retirement System.
