Oxford Properties acquires Investa Office Fund for A$3.4b

Oxford Properties Group, the real estate arm of Ontario Municipal Employees Retirement System (OMERS), has closed its A$3.4 billion ($2.44) take-private acquisition of the Investa Office Fund.

The acquisition of the 19-asset portfolio gives Oxford an immediate and substantial presence in the Australian market.

Oxford has renamed the ownership vehicle for the portfolio to Oxford Investa Property Partners (OIPP). Alongside Oxford’s role as strategic asset manager, Oxford has retained the Investa Office Management platform (Investa) to continue its role managing the portfolio, providing investment, asset, property, project and development management services. This appointment will ensure continuity for customers, and reflects Oxford’s high level of confidence in the quality and expertise of the Investa team.

“Oxford invests for the long term in global gateway cities with a focus on best-in-class assets in high-growth markets. We see a lot of runway to grow our business in Australia, leveraging the immediate scale created by this transaction. Oxford has a deep and long- held commitment to customers, communities and city building, and we look forward to continuing this tradition and building strong relationships with all stakeholders in the Australian market,  said Paul Brundage, Oxford’s head of Europe and Asia Pacific.

The transaction represents the second major investment in Australia for OMERS, following the 50-year lease of the Port of Melbourne as part of the Lonsdale Consortium in 2016. Both transactions reflect the commitment OMERS has to expanding its presence in Asia Pacific, which is being overseen from its recently opened regional headquarters in Singapore.