TPG acquires 75% of Oxford’s GTA industrial portfolio for C$1.3B

TPG and Oxford Properties Group announced a new partnership whereby TPG has acquired a 75% interest in Oxford’s two Class-A industrial business parks in the Greater Toronto Area: Brampton Business Park and Vaughan Business Park. Oxford has retained a 25% interest in the assets and will continue to manage the 5.1 million square-foot portfolio. The transaction values the portfolio at C$1.3B. Jacob Muller, Partner at TPG, commented: “We see the GTA as one of the most attractive industrial markets globally, with strong real estate fundamentals and population and employment growth outpacing many major U.S. markets. We have followed the Canadian industrial sector for several years, and believe this joint venture provides a unique opportunity to enter the market at scale through the acquisition of some of the highest quality industrial assets in all of Toronto. We are excited to partner with the Oxford team, which has a distinct track record in the space and deep local expertise, to support the properties and grow a leading industrial portfolio.”