Oxford Properties (Oxford) is a thematic investor that builds, buys and grows defined real estate businesses, with a track record of generating a 20-year average return of 10.4%. Despite posting a negative return in 2023, it still outperformed the market during a difficult year for the real estate sector, as interest rates impacted liquidity. Oxford attributed its resilience to its ability to develop, lease and asset manage properties.

Oxford invests across properties, portfolios, development sites, debt, securities and real estate businesses. It prioritises risk diversification, for example by complementing large-scale investment in the US logistics market with equally large debt backed by US industrial assets.

The firm prioritises diversification more broadly, with more than 50% of its assets held outside Canada in 2023. It has other diversification rules, with no asset greater than 5% of invested capital, no client greater than 5% of gross revenue and no single industry sector exceeding 20% of rental income within the portfolio.

Green financing is a key part of Oxford Properties’ strategy, with its Green Financing Framework published in November 2022, focusing on supporting investments that drive the transition to a low-carbon economy. Proceeds from financings are used to invest in a wide range of sustainable initiatives, including green buildings, renewable energy, energy efficiency, sustainable water and wastewater management, clean transportation, pollution and climate change adaptation.

Two green financing initiatives are currently active, one in Australia and one in Canada. In Australia, Oxford secured 100% green financing for Investa Gateway Office (IGO), an A$2.3 bn (€1.4bn) portfolio comprising five office buildings in key business district locations in Sydney and Melbourne.