Oxford Properties has marked its entry into the European life science real estate sector with an acquisition in the UK as it plans to invest £1.2bn (€1.4bn) in Europe over the next five years.
The global real estate asset management arm of Canada’s OMERS has invested £45m (€52.4m) to buy 310 Cambridge Science Park from Local Authorities’ Property Fund, a fund managed by the public sector and charities investment manager CCLA.
The 59,000sqft 310 Cambridge Science Park is fully let to AstraZeneca until November 2023, who are then relocating to a new headquarters.
Oxford Properties made its first investment in the life science sector in 2017 and currently has a $1.1bn life sciences portfolio in North America.