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Oxford Properties acquires $133M CA innovation park
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Oxford Properties Buys 4 Life Sciences Buildings
Posted on 01/12/2021
Oxford Properties Group, the real estate unit of Ontario Municipal Employees Retirement System, acquired four life sciences assets totaling 415,000 square feet, and developable land for US$ 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.
Oxford Properties Group is perpetuating the Bay Area and Boston-area life sciences boom with a move worth more than a quarter of a billion dollars, and it plans to use another half-billion on further capital investments.
The Toronto-based investment company and developer paid $276M for four life sciences assets and plots of land suitable for development in the thriving life sciences sector, according to a press release.
The deal comprises a mixed-use property in the East Bay city of Emeryville that also includes two land parcels earmarked for life sciences development, as well as three properties around Boston. Oxford expects to bolster the bundle by making additional capital investments amounting to $500M.
Mother-daughter team La Guerrera’s Kitchen is serving up Mexican eats, like tamales and chicken mole rojo, at a new brick-and-mortar restaurant that opened on Dec. 18 in Old Oakland. Photo: La Guerrera’s Kitchen
Usually at this time of year, coworkers, family and friends don their sparkliest outfits and gather to indulge in a holiday drink or festive meal at a local venue, often at a table or private event space booked weeks in advance.
Instead, December 2020’s widespread COVID-19 cases and hospitalizations have led to a near-statewide stay-at-home order, as well as a provisional end to outdoor dining that has restaurants fighting to survive. Denied indoor service for most of the year, eateries across California poured funds into parklets, tenting, heat lamps, table guards and staff training for the safety and comfort of al fresco patrons, only to see outdoor dining officially struck down this month at least through early January 2021. And of course, the lockdown doesn’t ju
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