5234max
New Member
They wouldn't lose control, they are 50%-50% with AIMco now, they don't control the relationship. They would potentially sell down to 25% if they were guaranteed ongoing management rights and the fees that go along with it. It would also allow them to lever the property which is currently very under leveraged (and due to pension tax laws they can't up the leverage in place). Oxford is trying to grow its AUM and repatriating some cash while keeping it under management is in-line with their strategy and something they would look at doing.
Oxford will always sell in and out of positions, but the big three malls in the GTA are their cash cow crown jewels. You have no idea how much they make for them.
City of Miss also has strangle hold on what will be allowed to be built on oxford owned lands..this could be a detriment to what Oxford thinks should be there vs city.