REBusinessOnline

Oxford Properties Group Acquires Industrial Park in Metro LA for $133.5M

Santa Clarita Innovation Park is a 14-building campus situated on 118.5 acres in suburban Los Angeles. Tenants include Boston Scientific and Bioness.

SANTA CLARITA, CALIF. — Oxford Properties Group, a real estate investment and management firm based in Toronto, has purchased Santa Clarita Innovation Park, a 14-building campus situated on 118.5 acres in the Los Angeles suburb of Santa Clarita.

Funds managed by Oaktree Capital Management and Intertex Cos. sold the property, which was formerly known as Mann Biomedical Park, for $133.5 million.

The acquisition of Santa Clarita Innovation Park falls in line with Oxford’s investment strategy as it is leased to various distribution users and life sciences firms such as Boston Scientific and Bioness. Oxford aims to have 45 to 60 percent of its assets-under-management portfolio to be in life sciences, industrial and residential real estate by 2025.

In addition to distribution and life sciences, Santa Clarita Innovation Park includes some offices, a childcare facility and Wolf Creek Brewery. Additionally, the acquisition includes development rights for approximately 40 acres within the park.

“Substantially growing our life sciences and industrial businesses represents our highest conviction investment strategies and top priorities at Oxford,” says Chad Remis, executive vice president of North America at Oxford. “The acquisition of Santa Clarita Innovation Park, and its additional development capacity, uniquely provides us with flexibility to build on our convictions in a Los Angeles market with an overwhelming scarcity of infill developable land.”

Newmark represented the sellers in the transaction. Oxford’s representation was not disclosed.

This is the first Los Angeles-area acquisition for Oxford, which is owned by OMERS, the Canadian defined benefit pension plan for Ontario’s municipal employees. IDI Logistics is a subsidiary of Oxford.

Oxford has been aggressively expanding its industrial holdings. Last month, the company reached an agreement to purchase 149 industrial facilities in 12 states from KKR in a deal valued at $2.2 billion.

— John Nelson

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Conferences


Subscribe to the newsletter

Read the Digital Editions

Midwest Multfiamily & Affordable Housing Business

Western Multfiamily & Affordable Housing Business

Texas Multfiamily & Affordable Housing Business

Southeast Multfiamily & Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews