OMERS buys seven hotels

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CANADA - The C$41bn Ontario Municipal Employees' Retirement System (OMERS) has bolstered both its real estate and infrastructure portfolios with the purchase of seven hotels and laboratory services firm MDS Diagnostic Services.

OMERS' real estate investment arm, $6bn Oxford Properties, purchased the hotels from Fairmont Hotels and Resorts - who will continue to manage the properties - for an undisclosed fee. The fund a...

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