Oxford Properties will outsource its multi-family property management services in the Greater Toronto Area and Montreal to BGO.

The deal covers 15 high-quality residential buildings in the two cities. The buildings contain 5,000 multi-family units.

“An important part of Oxford’s decision to partner with BGO was the technology and operational advantages they possess in the residential sector,:” said Tyler Seaman, Oxford’s vice-president for Canada, said in a news release.

Under the terms of the agreement, all Oxford permanent residential site employees are slated to join BGO.

The move does not change Oxford’s view on the Canadian residential sector, said the company. Oxford holds about $2.7 billion worth of residential assets.

“The operating needs and customer relationships in multifamily real estate are highly distinct from the commercial sector,” said Seaman. “The internal operation of our Canadian office, retail and industrial assets provides Oxford with unique competitive advantages due to their scale and our close relationships with corporations that span across Canada and the globe. We will continue to internally manage these portfolios to benefit from our operational capabilities in these areas.”

Christina Iacoucci, BGO’s head of Canada and chief investment officer, said the deal will expand BGO’s Canadian residential property management footprint to more than 12,000 units. The company serves residents across 46 properties in in Victoria, Vancouver, Calgary, Edmonton, Winnipeg, Southwestern Ontario, Toronto, and Montreal.

Based in Miami, BGO is a global asset manager that originated in Canada through a predecessor company, Bentall Kennedy.

Pictured: Toronto apartment building owned by Oxford Properties

Photo: Oxford Properties