Western Canada's office portfolio stake owned by CPP Investments has been acquired by Oxford Properties.
Toronto – The Scene
Oxford Properties Group has snagged a deal to purchase Canada Pension Plan Investment Board's (CPPIB) 50% stake in a collection of Western Canadian office properties they jointly owned, setting Oxford squarely in the driver's seat. This acquisition boasts a whopping $730 million price tag, giving Oxford sole ownership of a premium portfolio that towers over downtowns in Calgary and Vancouver.
This deal marks the grand entrance of Oxford Properties, the global real estate arm of pension fund manager OMERS, into the exclusive club of full property ownership. So, what's in the bag? The illustrious line-up includes seven downtown office properties.
In the heart of Calgary, you'll find Eau Claire Tower, Centennial Place, and 400 Third Avenue SW. Eau Claire Tower, a 25-storey LEED Gold certified skyscraper built in 2016, offers 611,000 square feet. Centennial Place, a more recent addition from 2010, covers 1.3 million square feet. Meanwhile, 400 Third Avenue SW, dating back to 1988, offers 820,000 square feet of prime real estate.
Swinging all the way to Vancouver, Oxford Properties' new portfolio includes The Stack, Guinness Tower, the Marine Building, and MNP Tower. The Stack, Canada’s first zero-carbon office tower, was built just last year and boasts 558,000 square feet.
Post-acquisition, Oxford Properties and CPPIB will still co-own a substantial portfolio across Canada. Tyler Seaman, Oxford Properties' Executive Vice-President of Canada, has expressed that the fund finds the current climate an opportune moment to re-invest in this asset class. This report was originally published on June 3, 2025, by The Canadian Press.
[1] Oxford Properties Group. (2025). Oxford Properties Acquires Western Canadian Office Portfolio from CPPIB [Press Release]. Retrieved from https://www.oxfordproperties.com/news-and-insights/press-releases/oxford-properties-acquires-western-canadian-office-portfolio-from-cppib
[2] Oxford Properties Group. (n.d.). Our Properties [Online page]. Retrieved from https://www.oxfordproperties.com/find-a-property/our-properties
[3] Canadian Real Estate magazine. (n.d.). Oxford Properties Group Acquires 4M SF Western Canadian Office Portfolio [Online article]. Retrieved from https://www.canadianrealestatemag.com/news/oxford-properties-group-acquires-4m-sf-western-canadian-office-portfolio-228493.aspx
[4] Globe Newswire. (2025, June 3). Oxford Properties Acquires Western Canadian Office Portfolio from CPPIB [Press release]. Retrieved from https://www.globenewswire.com/news-release/2025/06/03/2614313/0/en/Oxford-Properties-Acquires-Western-Canadian-Office-Portfolio-from-CPPIB.html
- The acquisition extends Oxford Properties' footprint in Canada, as they now hold sole ownership of a premium real-estate portfolio spanning downtown Calgary and Vancouver, with significant investments in business properties.
- With this acquisition, Oxford PropertiesGroup, a global real-estate arm of pension fund manager OMERS, is now a member of the exclusive club of full property ownership in both Calgary and Vancouver, focusing on lucrative areas such as finance and investing.
- In the bustling financial hub of Toronto, investors may be interested to learn that Oxford Properties Group, following a successful acquisition, is poised to make strategic moves in the real-estate sector, having solidified their position in Western Canada and with potential future growth in the Toronto market.
