Oxford Properties Group, the real estate investment division of OMERS, has completed a deal to develop and manage Watermark Place, an 11-storey, 530,000 square-foot office building on the River Thames.
The $500-million project is to be completed by September 2009. Oxford acquired a 250-year ground lease for the property from UBS Global Real Estate.
“The Watermark Place development is an important step in expanding Oxford’s global investment platform,” says Christopher Voutsinas, Oxford’s executive vice president, corporate development and investment. Oxford also plans to open an office in London, as a base for European acquisitions.
Oxford has more than 40 million square feet of prime office, retail, industrial, residential and hotel properties, in Canada, the U.S., Europe, South America, and Asia.
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