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BentallGreenOak

Trade name	BGO
Company type	Subsidiary
Industry	Private equity real estate
Founded	July 1, 2019; 5 years ago (2019-07-01)
Headquarters	Miami, Florida, U.S.
Number of locations	28 offices
Key people	Sonny Kalsi (Co-CEO) John Carrafiell (Co-CEO) Amy Price (President)
AUM	US$83 billion (June 30, 2023)
Number of employees	1,062 (2023)
Parent	Sun Life Financial
Website	www.bgo.com
Footnotes / references

BentallGreenOak, which uses the trade name BGO, is a real estate investment firm headquartered in Miami, Florida. The firm is the real estate investment arm of Sun Life Financial. It is considered one of the largest real estate investment firms in North America.

In 2022, the firm was ranked by PERE (under Private Equity International) as the seventh largest Private Equity Real Estate firm based on total fundraising over the most recent five-year period.

History

Bentall Kennedy and GreenOak Real Estate merged to form BentallGreenOak in 2019.

Bentall Kennedy was a Canadian real estate investment firm that was a subsidiary of Sun Life Financial and GreenOak Real Estate was an American private equity real estate firm established in 2010 with its seed capital being provided by the Tetragon Financial Group.

In 2019, Sun Life Financial acquired a 56% stake in GreenOak Real Estate by paying $195 million in cash. Then Sun Life merged the two firms to form BentallGreenOak. Bentall Kennedy's CEO, Gary Whitelaw became CEO of the new entity.

In 2020, Whitelaw resigned from his position as CEO and was replaced by GreenOak Real Estate co-founders, Sonny Kalsi and John Carrafiell who are currently serving as co-CEOs.

In February 2023, it was reported that BGO has been building its US commercial real estate lending platform.

In September 2023, BGO introduced move-in-ready offices for SME tenants seeking flexibility in hybrid work arrangements.

In September 2024, BGO stated that while the commercial-property market had hit the bottom and would start to recover, the office sector would still have challenges due to a shift in tenant demand.

Investments

• 1250 René-Lévesque
• Cloverdale Mall.
• Eastgate Square
• Eglinton Square Shopping Centre
• KPMG Tower
• North Hill Centre
• Pen Centre
• Richardson Building
• Sun Life Centre
• St. Vital Centre
• The Tenor
• Apple Campus 3

Legal actions

East End Capital and a pair of Australian investors filed a lawsuit against BentallGreenOak after they pulled out from a deal to purchase a Miami office tower. The court ruled in favour of BentallGreenOak in 2021, resulting in East End Capital's side being required to pay back a $5.5 million deposit.

References

1. ^ "BentallGreenOak Announces Closing of Merger Forming a Leading Global Real Estate Investment Platform". Financial Post. July 2, 2019. Archived from the original on March 16, 2024. Retrieved October 10, 2022.
2. "2023 Profile". Archived from the original on February 6, 2024. Retrieved February 6, 2024.
3. "Form ADV" (PDF). SEC. Archived (PDF) from the original on November 24, 2022. Retrieved November 24, 2022.
4. "Sun Life Financial completes acquisition of BentallGreenOak". businesschief.com. May 19, 2020. Archived from the original on October 10, 2022. Retrieved October 10, 2022.
5. "Forest Recovery Canada | Bentall Green Oak". Forest Recovery Canada. Archived from the original on October 12, 2022. Retrieved October 10, 2022.
6. "The PERE 100 bounces back" (PDF). Harrison Street. 2022. Archived (PDF) from the original on October 9, 2022. Retrieved October 10, 2022.
7. ^ "The Bentall GreenOak merger was 'like two puzzle pieces coming together' | PERE". January 18, 2021. Archived from the original on January 18, 2021. Retrieved October 10, 2022.
8. ^ "Sun Life to merge Bentall Kennedy real estate business with GreenOak". Investment Executive. December 19, 2018. Archived from the original on October 10, 2022. Retrieved October 10, 2022.
9. ^ Baba2018-12-19T13:49:00+00:00, Razak Musah. "Bentall Kennedy and GreenOak merger creates $47bn global real estate platform". Real Assets. Archived from the original on January 28, 2023. Retrieved October 10, 2022.{{cite web}}: CS1 maint: numeric names: authors list (link)
10. ^ "Ex-M.Stanley bankers launch new property venture". Reuters. August 2, 2010. Archived from the original on October 10, 2022. Retrieved October 10, 2022.
11. "John Carrafiell Appointed as co-CEO and Board Director for BentallGreenOak". markets.businessinsider.com. Archived from the original on October 10, 2022. Retrieved October 10, 2022.
12. "BentallGreenOak plans senior leadership change – Exclusive | PERE". August 3, 2020. Archived from the original on August 3, 2020. Retrieved October 10, 2022.
13. Plavajka, Randy (February 2, 2023). "BentallGreenOak's singular focus". Real Estate Capital USA. Archived from the original on September 29, 2023. Retrieved January 22, 2024.
14. Cheng, Andria (September 6, 2023). "BentallGreenOak Unveils Bet on Move-in-Ready Offices". CoStar. Archived from the original on March 16, 2024. Retrieved December 17, 2023.
15. Wong, Natalie (September 26, 2024). "Property-Market Hits 'Inflection Point' Even as Offices Lag, BGO Says". Bloomberg News. Retrieved October 25, 2024.
16. "BentallGreenOak acquires Montréal skyscraper 1250 René-Lévesque". www.lexpert.ca. Archived from the original on March 16, 2024. Retrieved October 10, 2022.
17. "Eastgate mall under new ownership". The Hamilton Spectator. December 24, 2013. ISSN 1189-9417. Archived from the original on October 10, 2022. Retrieved October 10, 2022.
18. "Groupe Petra and Groupe Mach Team Up To Buy Montreal's KPMG Tower". www.costar.com. Archived from the original on March 16, 2024. Retrieved October 10, 2022.
19. "Permanent Leasing". North Hill Centre. October 28, 2018. Archived from the original on October 10, 2022. Retrieved October 10, 2022.
20. "FOREVER GREEN". www.thepencentre.com. Archived from the original on October 10, 2022. Retrieved October 10, 2022.
21. "Richardson Centre Limited". James Richardson & Sons, Limited. Archived from the original on October 10, 2022. Retrieved October 10, 2022.
22. "Contact – 150 King West". Archived from the original on October 10, 2022. Retrieved October 10, 2022.
23. International, Retail & Leisure (January 15, 2021). "BentallGreenOak Welcomes Two New Regional Assets to Portfolio". Retail & Leisure International. Archived from the original on October 10, 2022. Retrieved October 10, 2022.
24. "BentallGreenOak pays $41M for Sunnyvale office building leased by Apple". TheRealDeal. August 21, 2023. Archived from the original on October 12, 2023. Retrieved September 24, 2023.
25. ^ Bushor, Alison (May 5, 2021). "BentallGreenOak Wins $6M Over Failed Miami Office Tower Deal". The Real Deal South Florida. Archived from the original on October 10, 2022. Retrieved October 10, 2022.

External links

• Official website

• Sun Life Financial
• Companies based in Miami
• Financial services companies established in 2019
• Investment companies of the United States
• Investment companies of Canada
• Real estate companies of the United States
• Real estate companies of Canada