Oxford buys out GE in $430M deal

Oxford Properties Group Inc. has acquired GE Capital International Holdings Corp.'s 50% stake in a portfolio held by the two companies, in a deal worth C$430 million. The holdings include prime office and retail buildings in three large Canadian cities. The properties, collectively called Marathon portfolio, was acquired by the two companies from Marathon Realty Corp. in November 1996, in a deal worth C$952.1-million. According to Oxford's president and chief executive, the deal with GE substantially completes the company's acquisition efforts in 1998.