Oxford Properties Group

Oxford Properties Group

March 05, 2012 15:36 ET

Oxford Properties and Montez Corporation Complete Acquisition of Les Promenades de L'Outaouais

TORONTO, ONTARIO--(Marketwire - March 5, 2012) - Oxford Properties Group ("Oxford") the real estate arm of the OMERS Worldwide Group of Companies, together with Montez Corporation ("Montez"), have completed the acquisition of Les Promenades de L'Outaouais. The 835,000 square foot, 185+ store regional shopping centre located in Gatineau, Quebec gives Oxford and Montez a new retail market presence in the Gatineau / Greater Ottawa area. The property will be managed by Oxford.

"We are pleased to add Les Promenades de L'Outaouais to our growing retail portfolio," said Blake Hutcheson, President and CEO, Oxford. "We are confident that Oxford's national scale and world class retail leasing and management platform will create additional value at the property. We are also very pleased to grow our relationship with Montez, who are a terrific partner to Oxford."

This is the second joint venture for Oxford and Montez, who acquired Hillcrest Mall together in 2011.

Oxford's Canadian portfolio of actively managed retail properties includes 8.5 million square feet of shopping centres, including Yorkdale Shopping Centre, Square One, and South Centre Mall, among others. Additionally, Oxford owns 5.7 million square feet of retail shopping centres in the United States.

The acquisition of Les Promenades de L'Outaouais is in line with Oxford's Canadian strategy to grow its portfolio of owned and managed properties and to actively manage them to create long term value.

About Oxford Properties

Oxford Properties Group, the real estate arm of the OMERS Worldwide Group of Companies, is a global platform for real estate investment, development and management, with over 1,300 employees and approximately $20 billion of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford was acquired in 2001 by OMERS, one of Canada's largest pension funds with over $55 billion in assets. Oxford has regional offices in Toronto, London and New York, each with investment, development and management professionals who have deep real estate expertise and local market insight.

For more information visit www.oxfordproperties.com.

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