Oxford Properties Group has partnered with AustralianSuper to sell a 50% stake in its €840-million European warehouse portfolio. This joint venture aims to capitalize on the growing logistics and industrial property sector. The partnership also includes co-ownership of M7 Real Estate, a European investment manager focused on supply chains.
Oxford Properties has reached an agreement to sell a 50% stake in its €840-million ($1.2-billion) European warehouse portfolio to AustralianSuper, Australia’s largest pension fund manager. The deal forms a joint venture to increase exposure to logistics and industrial properties. In addition to acquiring half of Oxford’s warehouse assets, AustralianSuper will also become a co-owner of M7 Real Estate , a European investment manager focused on supply chains that Oxford acquired in 2021.
Oxford Properties is the real estate arm of Ontario Municipal Employees Retirement System (OMERS), a $134-billion pension fund that invests for over 600,000 members. The company prioritizes logistics, representing about 37% of its assets. Oxford is heavily investing in infrastructure supporting the expanding digital economy. Warehouses and related properties have performed well despite challenges in office and retail real estate due to changing work and shopping habits.The portfolio comprises 76 urban logistics and distribution warehouses across western Europe, spanning 730,000 square meters. The warehouses are strategically located near key distribution hubs in the United Kingdom, Denmark, France, Germany, the Netherlands, and Spain. Oxford and AustralianSuper aim to increase the portfolio’s gross asset value to €4.5-billion ($6.7-billion) over three to five years. Joanne McNamara, Oxford’s head of Europe, stated that the partnership brings “significant and like-minded capital” to both the M7 portfolio and the M7 Real Estate platform while providing fresh capital for growth. Paul Clark, AustralianSuper’s head of European real assets, said the pension fund has been monitoring the urban logistics and distribution sector in Europe for several years to find the right portfolio.The portfolio is about 90% occupied by 214 tenants, with no single tenant exceeding 5% of the rent. Since 2021, Oxford has invested over €1.8-billion ($2.7-billion) through M7 Real Estate, expanding its managed assets to €5.6-billion ($8.3-billion)
LOGISTICS WAREHOUSES PARTNERSHIP INVESTMENTS AUSTRALIA
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Prince George Property Values Rise in 2024 AssessmentThe City of Prince George saw an increase in residential property values by 1.9% in the latest BC Assessment figures, while business properties surged by 7.4% and light industry by 12.6%. Rural areas surrounding Prince George also experienced growth, with residential properties increasing by 1.4%, business properties by 2.6%, and light industrial properties by 13.8%. The highest-assessed residential property in the North Central region is near Moberly Lake, while Prince George's highest-assessed property is worth just over $4 million.
Read more »
BC's Most Expensive Properties RevealedBC Assessment released the latest data on the most expensive properties in the province. The assessments are based on market values as of July 1, 2024. Lululemon founder Chip Wilson's Kitsilano home at 3085 Point Grey Rd. topped the list at $82.664 million.
Read more »
BC Gov Expects 4,000 Properties To Be Subject To New Flipping Tax Now In EffectHoward is based in Burnaby and covers real estate, housing policy, and the development industry. Signal: HowardChai.24
Read more »
Holborn Properties denies it let Dunsmuir House fall apart to force demolitionHolborn Properties, which owns the structure at 500 Dunsmuir Street, said it has worked with local authorities to ensure the vacant building was up to fire and life safety code.
Read more »
Slate Office REIT to Rebrand as Ravelin Properties REIT and Internalize ManagementSlate Office REIT (TSX: SOT.UN) is rebranding as Ravelin Properties REIT (TSX: RPR.UN) and accelerating its plan to internalize management. The termination date for the management agreement with Slate Asset Management has been moved up to December 31, 2024. Shant Poladian is expected to become the new CEO of Ravelin Properties REIT on or about January 1, 2025.
Read more »
Quebec municipalities brace for new flood zone maps that show more properties at riskCanada's construction news
Read more »