Crown Estate, Omers Agree on $483 Million London Venture
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The real estate unit of Ontario Municipal Employees Retirement System agreed to buy a 50 percent stake in the commercial real estate part of a 320 million-pound ($483 million) London project for an undisclosed amount from Britain’s Crown Estate.
Crown Estate, the property company that generates income for Queen Elizabeth II, and Toronto-based Oxford Properties Group will own 150-year leasehold interests in two blocks at St. James’s Market between Piccadilly Circus and Trafalgar Square, the London-based property company said in a statement today.