Oxford Properties is buying a $2.2bn (€1.9bn) US industrial real estate portfolio from KKR, a deal that progresses the Canadian investor’s plan to build a large scale industrial business.
The C$70bn (€47.4bn) property arm of Canadian pension fund OMERS said it has agreed to buy the 14.5m sqft infill and light industrial portfolio consisting of 149 high-quality distribution buildings.
Ankit Bhatt, VP of Investments at Oxford Properties, said high quality, infill, consumption-driven industrial portfolios of scale trade infrequently, so this transaction is an “important next step for Oxford to build a large scale industrial business in the US”.
“The acquisition serves as a launchpad for Oxford’s light industrial business which perfectly complements our big box development platform, IDI Logistics. We believe scale will become an important differentiator for industrial real estate operators, and we continue to pursue opportunities in the US light industrial sector.”
