Furthering its global expansion across residential, Oxford Properties (Oxford) launched a new a build to rent (BTR) management platform in Australia and developed a pipeline of over 25,000 units across the globe. This pipeline consists of projects such as Indi Melbourne Groundbreakings and Indi Sydney Topping. It also began the construction of two multi-family projects, including Sydney’s first-ever purpose-built BTR tower.

In Vancouver, Oxford broke ground and completed all excavation work to make major progress on Canada’s largest co-op housing renewal project. This is a joint venture with Intracorp, and the goal is to help address housing affordability challenges in major cities across the globe by delivering a greater supply of high-quality, professionally managed rental apartments. The Vancouver project will transform 54 deteriorating units into a modern, sustainability-oriented, three-tower complex, delivering 649 rental apartments, including 125 affordable co-op units, more than doubling the current allotment.

Elsewhere in Canada, Oxford acquired The Rimrock Resort Hotel in Banff in Alberta to be managed by leading hospitality group Accor, this investment grows Oxford’s western Canada resort hotel portfolio to over 2,500 rooms, making it the largest in the region. The Rimrock is an irreplaceable four-acre resort located on Sulphur Mountain. It boasts over 330 guestrooms, including 24 suites and extensive event space.

According to Oxford, The Rimrock has not received the appropriate investment and operational attention in recent years having previously been owned by an APAC-based hospitality group as its sole asset in Canada. Acquired via an off-market sale, Oxford was opportunistic in pursuing the Rimrock as a once-in-a-lifetime value add opportunity via renovation to transform the property. The Rimrock will undergo a comprehensive top to bottom renovation to restore its iconic status and enhance the guest experience via significant improvements in service and product. The hotel will continue to operate throughout the renovation period.