BentallGreenOak
Real estate investment firm From Wikipedia, the free encyclopedia
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.[4] It is considered one of the largest real estate investment firms in North America.[5]
| |
| BGO | |
| Company type | Subsidiary |
| Industry | Private equity real estate |
| Founded | July 1, 2019[1] |
| Headquarters | |
Number of locations | 28 offices |
Key people |
|
| AUM | US$83 billion (June 30, 2023) |
Number of employees | 1,062 (2023)[2] |
| Parent | Sun Life Financial |
| Website | www |
| Footnotes / references [3] | |
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.[6]
History
Summarize
Perspective
Bentall Kennedy and GreenOak Real Estate merged to form BentallGreenOak in 2019.[1][7][8][9]
Bentall Kennedy was a Canadian real estate investment firm that was a subsidiary of Sun Life Financial[7][8] 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.[10]
In 2019, Sun Life Financial acquired a 56% stake in GreenOak Real Estate by paying $195 million in cash.[8] Then Sun Life merged the two firms to form BentallGreenOak. Bentall Kennedy's CEO, Gary Whitelaw became CEO of the new entity.[1][7][9]
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.[10][11][12]
In February 2023, it was reported that BGO has been building its US commercial real estate lending platform.[13]
In September 2023, BGO introduced move-in-ready offices for SME tenants seeking flexibility in hybrid work arrangements.[14]
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.[15]
Investments
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.[25] 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.[25]
References
External links
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