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BGO | |
Company type | Subsidiary |
Industry | Private equity real estate |
Founded | July 1, 2019 [1] |
Headquarters | |
Number of locations | 25 offices |
Key people |
|
AUM | US $86 billion (March 31, 2025) |
Number of employees | 1,400 (2025) [2] |
Parent | Sun Life Financial |
Website | www |
Footnotes /references [3] |
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]
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] In 2025, it rose to fourth place in the same ranking. [7]
Bentall Kennedy and GreenOak Real Estate merged to form BentallGreenOak in 2019. [1] [8] [9] [10]
Bentall Kennedy was a Canadian real estate investment firm that was a subsidiary of Sun Life Financial [8] [9] 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. [11]
In 2019, Sun Life Financial acquired a 56% stake in GreenOak Real Estate by paying $195 million in cash. [9] Then Sun Life merged the two firms to form BentallGreenOak. Bentall Kennedy's CEO, Gary Whitelaw became CEO of the new entity. [1] [8] [10]
In 2020, Whitelaw retired 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. [11] [12] [13]
In February 2023, it was reported that BGO has been building its US commercial real estate lending platform. [14]
In September 2023, BGO introduced move-in-ready offices for SME tenants seeking flexibility in hybrid work arrangements. [15]
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. [16]
In May 2025, BGO raised $4.6 billion on its BGO Asia Fund IV targeting Japan making it the largest fund at that time. This came as a surprise to some as the firm was based in the US. It was suggested reasons included better returns and wanting to diversify beyond the US due to geopolitical factors. [17]
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]