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Oxford Properties enters fray for stake in A$2B Sydney project

Canadian property investor Oxford Properties Group joined the contest for Grocon Pty. Ltd.'s stake in A$2 billion Central Barangaroo integrated project in Sydney, The Australian reported.

The real estate arm of the Ontario Municipal Employees Retirement System pension fund is going up against Mitsui Fudosan Co. Ltd., Charter Hall Group and Investa Property Group to secure a portion of the project, which is being developed with Scentre Group and Aqualand.

Bidding for the stake will close within the week ending June 10, the publication noted June 4. Macquarie Capital and JLL are overseeing the sale process that is expected to deliver A$1.4 billion to Grocon.