TPG Acquires Bulk of Oxford’s GTA Industrial Portfolio for C$1B
Global asset management giant TPG has acquired the majority of Oxford Properties’ Greater Toronto Area Industrial real estate portfolio for C$1 billion.
Toronto-based Oxford and San Francisco-headquartered TPG announced that they have formed a new joint-venture partnership whereby hold a 75% stake in the Brampton Business Park and Vaughan Business Park.
“Oxford has retained a 25% interest and will continue to manage the 5.1-million-square-foot portfolio,” the companies said in a news release. The joint venture is the first between TPG and Oxford.
TPG acquired the properties through its dedicated real estate equity fund.
The California company has US$212 billion of assets under management and investment and operational teams located around the world. Oxford is a leading global developer and investment manager with $85 billion in assets across four continents.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.