Oxford Properties and CPPIB enter into Canadian retail joint venture
June 3, 2013
On June 3, 2013, Oxford Properties Group ("Oxford") and CPP Investment Board ("CPPIB") entered into a 50/50 Canadian retail joint venture comprised of two regional malls, one contributed by each partner. As part of the transaction, CPPIB acquired a 50% interest in the approximately 1 million square foot Upper Canada Mall, in Newmarket, Ontario, from Oxford, and Oxford acquired a 50% interest in the 1.5 million square foot Les Galeries de la Capitale shopping centre, in Québec City, Québec, from CPPIB. Oxford will manage both properties on behalf of the partners.
Oxford, headquartered in Toronto, Ontario, is a global real estate owner, investor, developer and property manager.
CPPIB, headquartered in Toronto, Ontario, is a global investment management organization.
McCarthy Tétrault LLP represented Oxford, with a team led by Jamie Orzech.