Oxford Properties acquires portfolio of office properties in Australia

TORONTO — Oxford Properties Group has acquired the Investa Office Fund, a portfolio of 19 properties in Australia, for $3.3 billion.

The deal includes office buildings in Sydney, Melbourne, Brisbane, Perth and Canberra.

The companies say Oxford and Investa will jointly manage the portfolio.

Oxford plans to sell a number of non-core properties and has initiated select sale processes to reposition the portfolio and fund future growth.

It’s the real estate investment firm’s second major investment in Australia following the lease of the Port of Melbourne as part of a consortium in 2016.

Oxford is the real estate arm of OMERS, one of Canada’s largest pension plans.

The Canadian Press