Oxford Properties

Last updated
Oxford Properties Group
Company type Private
Industry Real estate
Founded1960;64 years ago (1960)
Headquarters EY Tower [1] , ,
Canada
Area served
Canada
United States
United Kingdom
Key people
Daniel Fournier (Executive Chair)
Products Office
Industrial
Retail
Residential
Life Sciences [2]
Hotel
Services Land development
Property management
Asset management
Investment
AUM CA$87 billion (June 2023)
Owner OMERS
Number of employees
2,000+
Website oxfordproperties.com

Oxford Properties is a Canadian multinational corporation, with operations in real estate investment, development and property management. Its portfolio includes office, retail, industrial, multi-residential, life sciences and hotel assets. [3] Established privately in 1960 and later wholly owned by the Ontario Municipal Employees Retirement System (OMERS) since 2003, [4] the company is headquartered in Toronto with regional head offices in New York City, London, Australia, Singapore and Luxembourg. [5] The organization has 2,000+ employees and approximately C$70 billion of assets that it manages for itself and on behalf of its investment partners. Oxford's owned portfolio represents more than 150 million square feet in key cities and high-growth hubs. [6] Some of its most notable properties include Hudson Yards, Yorkdale Shopping Centre, Fairmont Banff Springs Hotel, Olympic Tower and Sony Center. Oxford also owns a portfolio of luxury hotels in Canada as well as rental residential units in Canada and the US.

Contents

Oxford Properties has several significant development projects currently underway in New York City, London, Sydney, Vancouver and Toronto.

Corporate history

Oxford Leaseholds was established in 1960 in Edmonton by Don Love, and John and George Poole, founders of PCL Construction. Don Love had arrived in Edmonton in 1955 as a stockbroker working for a national securities firm. A physician client approached him about building a medical clinic in Edmonton, asking if he knew of any potential investors. He knew E.E. Poole, another one of his clients, and when Love made the proposal, Ernest Poole declined but suggested that his sons John and George might have some interest. The three started a new company called "POLO" – "PO" for Poole, and "LO" for Love. John and George provided the capital. The trio secured a mortgage and built the Baker Clinic, which they then sold back to the doctors of the practice. [7] A decade later, a new ownership structure was introduced, as Oxford went private in 1980 in a management-led leveraged buyout. To pay for the deal, it sold its shopping centres. The decade did not pass quietly however, with assets rising above $3 billion. Oxford Properties set up its headquarters in Toronto's Richmond-Adelaide Centre and sold its U.S. business to BCE Development Corp. Next, the company split into two separate companies: Oxford Properties Canada Ltd. put the company's real estate back in public hands, and Oxford Development Group remained private and managed all of the company's real estate. [8]

In 1988, the two companies merged and once again went public, with help from a $60 million investment from a Hong Kong investor. The company made significant real estate investments, buying entire portfolios from Marathon, Greiner-Pacaud, Hammerson Canada, Royal Bank of Canada and Canderel Group. In 2001, the company became wholly owned by the Ontario Municipal Employees Retirement System. [4]

Environmental and social responsibility

Oxford Properties ranked first in Sustainability in North America in the Diversified Retail/Office Category by GRESB survey for the fourth year in a row in 2016. [9] GRESB is an industry-driven organization committed to assessing the ESG performance of real assets globally, including real estate portfolios and infrastructure assets. [10] As of Spring 2021, Oxford Properties has: [11] [ better source needed ]

See also

Competitors:

Related Research Articles

<span class="mw-page-title-main">Brookfield Corporation</span> Canadian asset management company

Brookfield Corporation is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$725 billion of assets under management in 2022. It focuses on direct control investments in real estate, renewable power, infrastructure, credit and private equity. The company invests in distressed securities through Oaktree Capital, which it bought in 2019. Brookfield's headquarters are in Toronto.

<span class="mw-page-title-main">Yorkdale Shopping Centre</span> Shopping mall in North York, Toronto

Yorkdale Shopping Centre, Yorkdale Mall, or simply Yorkdale, is a major retail shopping centre in Toronto, Ontario, Canada. Located at the southwest corner of the interchange between Highway 401 and Allen Road, it opened in 1964 as the largest enclosed shopping mall in the world. Yorkdale is currently the third largest shopping mall in Canada by floor space and has the highest sales per unit area of any mall in Canada, with current merchandise sales levels at roughly CA$1,905 per square foot. At 18 million annual visitors, it is one of the country's busiest malls. Many international retailers have ventured the Canadian market initially at Yorkdale.

<span class="mw-page-title-main">Brookfield Properties</span> Commercial real estate company in North America

Brookfield Properties is a North American subsidiary of commercial real estate company Brookfield Property Partners, which itself is a subsidiary of alternative asset management company Brookfield Asset Management. It is responsible for the property management of the company's real estate portfolio. Brookfield Properties acquired General Growth Properties, one of the largest mall operators in the U.S., and merged it into Brookfield Properties in 2018.

<span class="mw-page-title-main">Sun Life Financial</span> Canadian insurance company

Sun Life Financial Inc. is a Canadian financial services company. It is primarily known as a life insurance company.

Canada Lands Company Limited is a self-financing federal Crown corporation reporting to the Parliament of Canada through Public Services and Procurement Canada. The company is responsible for managing property on behalf of the federal government, conducting public consultation and integrating properties back into their surrounding communities for development. Most of its assets are located in Canadian urban centres, and are sold after the CLC revalued the property by providing managerial support and subsidizing immediate costs such as decontamination. However, the company retains ownership of some of Canada's most valued properties, such as Downsview Park, the CN Tower, the Old Port of Montreal and the Montreal Science Centre, from which it draws rental and hospitality revenues.

<span class="mw-page-title-main">Ontario Teachers' Pension Plan</span> Ontario educational pension plan organization

The Ontario Teachers' Pension Plan Board is an independent organization responsible for administering defined-benefit pensions for school teachers of the Canadian province of Ontario. Ontario Teachers' also invests the plan's pension fund and it is one of the world's largest institutional investors, acting as a partner organization of the World Economic Forum. The plan is a multi-employer pension plan, jointly sponsored by the Government of Ontario and the Ontario Teachers' Federation.

<span class="mw-page-title-main">Caisse de dépôt et placement du Québec</span> Canadian institutional investment company

The Caisse de dépôt et placement du Québec is an institutional investor that manages several public and parapublic pension plans and insurance programs in the Canadian province of Quebec. It was established in 1965 by an act of the National Assembly, under the government of Jean Lesage, as part of the Quiet Revolution, a period of social and political change in Quebec. It is the second-largest pension fund in Canada, after the Canada Pension Plan Investment Board. It was created to manage the funds of the newly created Quebec Pension Plan, a public pension plan that aimed to provide financial security for Quebecers in retirement. The CDPQ’s mandate was to invest the funds prudently and profitably while also contributing to Quebec’s economic development. As of December 31, 2023, CDPQ managed assets of C$434 billion, invested in Canada and elsewhere. CDPQ is headquartered in Quebec City at the Price building and has its main business office in Montreal at the Édifice Jacques-Parizeau.

<span class="mw-page-title-main">RioCan Real Estate Investment Trust</span> Canadian real estate investment trust

RioCan Real Estate Investment Trust is the second-largest real estate investment trust (REIT) in Canada. As of 2024, it has an enterprise value of approximately $14.3 billion and owns 188 properties with a net leasable area of 33 million square feet. The company properties are located across Canada. The current chief executive officer is Jonathan Gitlin.

The Cadillac Fairview Corporation Limited, branded as Cadillac Fairview, is a Canadian company that invests in, owns, and manages commercial real estate, mainly in Canada and the United States. As of March 2017, the company had 73 properties, encompassing 50 million square feet, worth over $40 billion. As of September 2017, Cadillac Fairview's portfolio consisted of 60% Canadian retail and 26% Canadian office buildings. Cadillac Fairview is wholly owned by the Ontario Teachers' Pension Plan.

<span class="mw-page-title-main">Ivanhoé Cambridge</span> Canadian real estate company

Ivanhoé Cambridge Inc. is a Canadian real estate company based in Montreal, Quebec. With assets around the globe, its areas of activity are investment, development, asset management, operations and leasing. The company's real estate portfolio consists primarily of multi-residential properties, industrial/logistics real estate, shopping centres and office properties. It also has ownership interests in real estate investment funds and hotels. Ivanhoé Cambridge is a subsidiary of the Caisse de dépôt et placement du Québec.

<span class="mw-page-title-main">Unibail-Rodamco-Westfield</span> French real estate company

Unibail-Rodamco-Westfield SE is a French multinational commercial real estate company headquartered in Paris, France. Its history originates with the formation of two separate shopping centre operators, Unibail and Rodamco Europe, which merged in 2007 and became a societas Europaea in 2009. The company acquired Australian shopping centre operator Westfield Corporation in June 2018.

The Canada Pension Plan Investment Board, operating as CPP Investments, is a Canadian Crown corporation established by way of the 1997 Canada Pension Plan Investment Board Act to oversee and invest the funds contributed to and held by the Canada Pension Plan (CPP).

Kulczyk Investments SA is an international investment company, founded by Polish entrepreneur Jan Kulczyk in 2007, focusing on business opportunities in high-growth markets. The company's strategic sectors are energy, infrastructure, chemical industry and mineral resources. Kulczyk Holding SA is responsible for the operations of the group in Poland.

Arabesque Partners is an Anglo-German investment management firm founded in 2013, with headquarters in London and a research hub in Frankfurt. The company offers a quantitative approach to sustainable investing.

CPI Property Group (“CPIPG”) is a real estate landlord of income-generating commercial properties focused on the Czech Republic, Berlin, Warsaw and the Central & Eastern European (CEE) region. It was founded in the Czech Republic in 1991.

Warwick Investment Group is a SEC-registered investment advisor, managing funds that invest globally in natural resources and real estate. Warwick has an established track record in strategic consolidation in these sectors, having completed more than 4,000 transactions since inception. The firm has ~75 team members and advisors across offices in Oklahoma City, Dallas, New York and London, investing across private equity funds, special purpose vehicles and open-ended structures. The firm also manages capital for pension funds in 8 of the 50 states.

<span class="mw-page-title-main">First Capital REIT</span>

First Capital REIT is a Canadian public real estate company, specializing in retail real estate, and based in Toronto, Ontario. It is one of the largest retail landlords in Canada.

Morguard Corporation is a Canadian real estate company, based in Mississauga, Ontario. It owns retail, residential, office, industrial, and hotel properties, as well as managing real estate and financial investments for institutional investors. As of October 2017, it owned $9.4 billion in real estate, and managed an additional $12.6 billion.

<span class="mw-page-title-main">GRESB</span> ESG benchmark

GRESB is a Netherlands-based company that operates an annual sustainability assessment for standing real estate investments, real estate projects in development, infrastructure funds, and infrastructure assets. From these assessments, it provides standardized and validated environmental, social, and governance (ESG) data and benchmarks for the real assets investment community. Academic research has demonstrated that GRESB participation is a predicator of fund-level financial returns.

References

  1. "Contact". Oxford Properties.
  2. Oxford Properties Group, Inc. "Oxford acquires four Life sciences assets amid push into asset class" via www.oxfordproperties.com.{{cite web}}: |first= has generic name (help)
  3. Inc, Oxford Properties Group. "The Restored Park Hyatt Toronto to Open September 2021". www.newswire.ca.{{cite web}}: |last= has generic name (help)
  4. 1 2 "OMERS to buy Oxford Properties for $1.5 billion | CBC News".
  5. Oxford Properties Group, Inc. "Global headquarters" via www.oxfordproperties.com.{{cite web}}: |first= has generic name (help)
  6. Inc, Oxford Properties Group. "The Restored Park Hyatt Toronto to Open September 2021". www.newswire.ca.{{cite web}}: |last= has generic name (help)
  7. Graham, Shirley. The PCL story : our first 100 years : PCL construction leaders via www.torontopubliclibrary.ca.
  8. "Oxford CEO all business regarding sale of family's real estate company". The Globe and Mail. 27 August 2001.
  9. https://gresb-public.s3.amazonaws.com/2016/content/2016_NorthAmerica_Snapshot.pdf [ bare URL PDF ]
  10. "About GRESB and ESG benchmarking". gresb.com.
  11. "President's message". sustainable.oxfordproperties.com.
  12. "The 10 most innovative energy companies of 2021". fastcompany.com/. 9 March 2021.
  13. "Oxford Properties". www.oxfordproperties.com.