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BentallGreenOak
BentallGreenOak is a global real estate investment manager owned by Sun Life Financial, with offices in Toronto, New York, Conshohocken, and Tokyo.
BentallGreenOak
BentallGreenOak was formed through a series of mergers and acquisitions that combined several legacy real estate investment firms, including Bentall Kennedy and GreenOak Real Estate. The firm's roots trace back to Bentall Kennedy's founding in Vancouver in 1911 as a property management company, while GreenOak Real Estate was established in 2010 by John Carrafiell and others. The combined entity operates as a global real estate investment manager with a focus on office, industrial, retail, residential, and alternative property sectors. The firm's strategy encompasses direct property acquisitions, development, and fund management across North America, Europe, and Asia Pacific. BentallGreenOak typically targets core, core-plus, and value-add opportunities in major metropolitan markets. The firm has been an active investor in office properties in gateway cities like New York, London, and Tokyo, and has expanded into logistics, life sciences, and data centers. Known co-investors include institutional partners such as pension funds and sovereign wealth funds. BentallGreenOak's operations are supported by professionals based in offices in Toronto, New York, Conshohocken, and Tokyo, though team size is not publicly disclosed. The firm is owned by Sun Life Financial, which acquired a majority stake in 2022 as part of a broader strategy to expand its asset management platform. In June 2024, the firm announced the closing of a $1.5 billion open-end core real estate fund focused on U.S. office and industrial assets (per PERE, June 2024). A key structural differentiator is BentallGreenOak's integration within Sun Life Financial's global asset management division, giving it access to a vast institutional distribution network and long-dated capital. The firm also maintains a proprietary research platform that informs its underwriting and investment timing. Unlike many real estate managers that operate as standalone entities, BentallGreenOak benefits from Sun Life's balance sheet and strategic alignment with insurance liabilities.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Toronto
Corporate office
Toronto, Ontario, Canada
Additional offices
New York · Conshohocken · Tokyo
Sector focus
Frequently asked questions
Who owns BentallGreenOak?
BentallGreenOak is majority-owned by Sun Life Financial, which acquired control in 2022 as part of its asset management expansion strategy (per Sun Life, 2022; public record). The firm operates as part of Sun Life's global investment platform, alongside other affiliates.
What investment strategies does BentallGreenOak pursue?
The firm invests across core, core-plus, value-add, and opportunistic real estate strategies, covering direct property acquisitions, development, and fund management. It focuses on office, industrial, retail, residential, and alternative sectors such as life sciences and data centers (per public record).
What is the geographic focus of BentallGreenOak?
BentallGreenOak has a global footprint targeting major metropolitan markets in North America, Europe, and Asia Pacific. Its offices are located in Toronto, New York, Conshohocken, and Tokyo, with investment activity spanning cities like New York, London, and Tokyo (per public record).
How is BentallGreenOak structured relative to Sun Life Financial?
BentallGreenOak operates as a separately managed real estate investment manager within Sun Life Financial's broader asset management division. This structure provides the firm with access to Sun Life's institutional distribution network, long-dated capital, and balance sheet support, while maintaining its own distinct investment platform and team (per public record).
What types of clients does BentallGreenOak serve?
The firm manages real estate investments for institutional clients, including pension funds, sovereign wealth funds, insurance companies, and other allocators. It also offers open-end and closed-end fund vehicles for these investors.
Does BentallGreenOak have a track record in office investments?
Yes, the firm has been a significant investor in office properties in gateway cities. For example, it co-owns Park Avenue assets in New York and has a portfolio of office towers in Toronto. Its recent $1.5 billion core fund also targets U.S. office and industrial assets (per PERE, June 2024).
What is the firm's approach to sustainability?
BentallGreenOak emphasizes environmental, social, and governance (ESG) practices in its investment process, including energy efficiency and carbon reduction targets. The firm is a signatory to the UN Principles for Responsible Investment and reports on sustainability metrics for its funds (per the firm's communications).
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