TPG has acquired a 75 percent interest in Oxford Properties Group’s two class A industrial business parks in the greater Toronto area (GTA): Brampton Business Park and Vaughan Business Park. Oxford has retained a 25 percent interest in the assets and will continue to manage the 5.1 million-square-foot portfolio. The transaction values the portfolio at C$1.3 billion ($970 million).
The joint venture, which is the first between TPG and Oxford, represents one of the largest private industrial real estate transactions in Canada to date. TPG Real Estate, TPG’s diversified real estate investment platform, is acquiring the properties through its dedicated real estate equity fund series.
“We see the GTA as one of the most attractive industrial markets globally, with strong real estate fundamentals and population and employment growth outpacing many major U.S. markets,” said Jacob Muller, partner at TPG. “We have followed the Canadian industrial sector for several yea
