On June 3, 2025, Oxford Properties Group (“Oxford”), the global real estate arm of OMERS, announced the acquisition of Canada Pension Plan Investment Board’s (“CPP Investments”) 50% interest in a Western Canada office portfolio for C$730 million. This transaction gives Oxford full ownership of the portfolio, which is valued at approximately C$1.5 billion. The four-million-square-foot portfolio includes seven high-quality downtown office properties—three in Calgary (Eau Claire Tower, Centennial Place, and 400 Third) and four in Vancouver (The Stack, Guinness Tower, Marine Building, and MNP Tower). The assets are recognized for strong tenant retention and performance, with over 95% occupancy and long-term lease commitments from a diverse mix of industries such as finance, tech, law, transportation, and natural resources. Most of the properties were built or significantly renovated after 2010, including The Stack, Canada’s first zero carbon office tower. Oxford highlighted the strategic timing of reinvestment into the office sector, leveraging its role as asset and property manager to drive value. CPP Investments cited the transaction as aligned with its strategy to optimize real estate performance and redeploy capital. The transaction underscores the enduring partnership between Oxford and CPP Investments, which continues through other jointly owned assets across Canada.

Davies Ward Phillips & Vineberg LLP served as legal advisor to Oxford.