DOOR residential platform

We have the flexibility to invest in development sites, single assets, portfolios or platforms across the risk-reward spectrum. We also have the discipline to invest thematically, acting with conviction in industries and markets supported by economic, demographic and social trends. And our permanent, committed capital allows us to take a long-term view and see past investment cycles. Together these provide a real competitive advantage.

In 2018, Oxford and Delancey formed residential investment vehicle DOOR with an initial investment of ₤600 million and through an off-market transaction DOOR acquired a 39% interest in the Get Living platform. Under the leadership of Oxford and Delancey, DOOR will raise additional funds through select strategic investors. This will ensure Get Living has the growth capital required to expand, drive scale advantages and optimize returns while staying in alignment with Oxford’s capital allocation and diversification framework.

Between DOOR’s forming in July 2018 and the first quarter of 2020, Get Living’s operational portfolio size increased by 50% to 3,000 units, with a further 5,000 units under construction or to be developed. Consistent with the strategy, in April 2020 DOOR closed its first external fundraising commitment—a ₤250 million from Swedish pension plan Alecta – as it continues to pursue further growth.

Shortly thereafter, DOOR acquired Lewisham Gateway, a 649-unit multifamily-led development— located in one of South East London’s largest regeneration projects—for ₤252 million at 100% share.

Following the acquisition of Middlewood Locks in Manchester, UK in 2018, this transaction represents the second follow-on opportunity of the DOOR multifamily co-investment platform.

We are thematic investors, and within our investment framework have real flexibility in how we invest and what we invest in. Our capital structure allows us to take a highly-disciplined, long-term view and invest with conviction, unconstrained by short-term market volatility. We have the benefit of global colleagues across sectors, markets and functions to learn from and share with, and of local colleagues who know every building, street and customer. Together this adds up to a financial, informational and operational advantage that few others can realize and that the DOOR formation, investment and fundraise clearly demonstrate.

Only two years after our initial investment, Get Living is already demonstrating strong portfolio growth and operational resiliency—and we’re just getting started.