Oxford Properties, the real estate arm of Canadian pension investor OMERS, is to expand its activities to Asia, EuroProperty has revealed.
EuroProperty, the weekly publication of the PropertyEU group, reported in its edition published on 27 October, that Oxford Properties’ senior executive in Europe, Paul Brundage (pictured), will add Asia to his responsibilities next year when OMERS opens an office in Singapore.
OMERS said in a statement that a presence in Singapore is 'part of a multi-year strategy being carried out by OMERS to identify promising investment opportunities in emerging markets'.
Brundage, who is also president of the British Property Federation, told EuroProperty that because the Singapore office will be an ‘enterprise’ office of OMERS, covering all asset classes including real estate which he will head, there will be 'tremendous cross-pollination opportunities'.
Oxford Properties manages more than C$40 bn (€26.5 bn) worldwide. As EuroProperty reported on 3 October, it recently acquired the Sony Center, Berlin, for €1.1 bn in a joint deal with Madison International Realty. Together with the earlier purchase of Window, in La Défense, Paris, for €500 mln, this brought the company's continental European assets under management to €2.3 bn.
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