Real estate veteran Daniel Fournier will soon take charge of Oxford Properties as its new Executive Chair, succeeding long-time President Michael Turner as the head of one of Canada's largest real estate investment companies.
Turner will step down from the role at the end of March, with Fournier slated to start April 1. But Turner won't be going far -- he'll continue working with Oxford, "focusing his efforts on helping Oxford drive success across a number of its US-specific strategies," Oxford's owner, the Ontario Municipal Employees Retirement System (OMERS), said in a news release on Wednesday.
“For over thirteen years, five as President, Michael has dedicated himself to our outstanding global real estate success story,” said Blake Hutcheson, President and Chief Executive Officer of OMERS. “He and his team of extraordinarily talented people, have overseen an important period of growth for Oxford, diversifying our business, building capabilities, and expanding into new markets and sectors. I sincerely thank Michael for his commitment to Oxford and to OMERS members.”
With more than 40 years of experience in the real estate industry, including nine years as Chairman and CEO of Ivanahoé Cambridge, Fournier is poised to help Oxford continue its global expansion. During his time at the Quebec-based company, Fournier was credited with helping to shape the brand into an internationally recognized and well-respected institutional investor, more than doubling its real estate assets and garnering an average annual return of 11.8%
"We are delighted to welcome Daniel Fournier to the Oxford team," Hutcheson said. "Mr. Fournier’s extensive experience, track record of success, and in-depth knowledge of global real estate investing will be an invaluable asset to Oxford as we enter this next phase of growth across the globe."
Fournier's new role at Oxford will be the latest move in his long and impressive career, and a particularly interesting one considering he announced his retirement back in 2019. He's previously held positions as the Chairman of the Board of engineering consulting firm Genivar (now WSP Global) and as a member of the Board of Directors of Canadian Tire. Much earlier in his career, Fournier studied at Oxford University as a Rhodes Scholar where he took a term off to play in the Canadian Football League for the Ottawa Rough Riders.
With Oxford's $82B in assets, ranging from offices to retail to multi-family residential, all spread across four continents and over 100 projects currently underway globally, Fournier will certainly have an interesting (an extensive) portfolio to oversee.