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Oxford Properties Buys 4 Life Sciences Buildings
Posted on 01/12/2021
Oxford Properties Group, the real estate unit of Ontario Municipal Employees Retirement System, acquired four life sciences assets totaling 415,000 square feet, and developable land for US$ 276 million, with anticipated follow on investments of US$ 500 million in the assets. The acquisitions come as part of Oxford’s strategy to build a life sciences business in an asset class. Oxford intends to deploy an additional US$ 500 million of capital into these investments through development of new biotech space and converting existing office and retail uses into new lab space at the Bay Area asset and has identified value-add opportunities within the Boston portfolio.