Oxford Properties invest in Get Living
Oxford Properties, the global real estate arm of Ontario Municipal Employees Retirement System, has invested in Get Living, a U.K.-based privately backed residential company.
DV4, Delancey's offshore arm, and Oxford Properties have formed Delancey Oxford Residential (DOOR), a new co-investment platform with initial capital commitments of £600 million ($794 million).
Get Living has plans to build on its current assets of residential properties in London and other cities in Britain with a target of 12,500 homes.
DOOR will hold approximately 39 percent of the current Get Living portfolio, which includes comprises more than 2,000 existing homes across two London schemes at East Village, the former Athlete’s Village on the Olympic Park in Stratford, and Elephant Central in Elephant and Castle (E&C). These schemes sit alongside a development pipeline of approximately 4,400 homes, both at East Village and E&C as well as two sites in the key regional cities of Glasgow and Leeds.
APG and Qatari Diar will hold 39 percent and 22 percent, respectively, of the portfolio.
Founded in May 2013, Get Living is a company created by DV4, Qatari Diar and APG . The founding investors will continue to back the business as a result of this reorganization.