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| native_name =
| native_name =
| former_name =
| former_name =
| type = [[Subsidiary]]
| type = Subsidiary
| traded_as =
| traded_as =
| industry = [[Real estate]]<br>[[Private Equity]]
| industry = Real estate<br>[[private equity]]
| foundation = {{start date and age|df=yes|2019|7|1}}<ref name="FP">{{cite news |title=BentallGreenOak Announces Closing of Merger Forming a Leading Global Real Estate Investment Platform |url=https://financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/bentallgreenoak-announces-closing-of-merger-forming-a-leading-global-real-estate-investment-platform |website=Financial Post |language=en |date=2 July 2019}}</ref>
| foundation = {{start date and age|df=yes|2019|7|1}}<ref name="FP">{{cite news |title=BentallGreenOak Announces Closing of Merger Forming a Leading Global Real Estate Investment Platform |url=https://financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/bentallgreenoak-announces-closing-of-merger-forming-a-leading-global-real-estate-investment-platform |website=Financial Post |language=en |date=2 July 2019}}</ref>
| founder = Sonny Kalsi (Co-CEO)<br>[[John Carrafiell]] (Co-CEO)<br>Amy Price (President)
| founder = Sonny Kalsi (Co-CEO)<br>[[John Carrafiell]] (Co-CEO)<br>Amy Price (President)
| location = 1 York Street, [[Toronto]], [[Canada]]<br>[[399 Park Avenue]], [[New York City]], U.S.
| location = 1 York Street, [[Toronto]], Canada<br>[[399 Park Avenue]], New York City, U.S.
| num_locations = 28 offices
| num_locations = 28 offices
| key_people =
| key_people =
| revenue =
| revenue =
| net_income =
| net_income =
| aum = US$ 80 billion (Q2 2022)
| aum = US$80&nbsp;billion (Q2 2022)
| equity =
| equity =
| num_employees = 1,231 (2021)<ref name="GRI">{{cite web |title=2022 Corporate Responsibility Report – GRI Disclosures |url=https://www.bentallgreenoak.com/pdf/cr/gri-social.pdf}}</ref>
| num_employees = 1,231 (2021)<ref name="GRI">{{cite web |title=2022 Corporate Responsibility Report – GRI Disclosures |url=https://www.bentallgreenoak.com/pdf/cr/gri-social.pdf}}</ref>
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}}
}}


'''BentallGreenOak''' is a real estate investment firm based [[Toronto]] and [[New York City]]. The firm is the real estate investment arm of [[Sun Life Financial]].<ref name="bchief">{{cite web |title=Sun Life Financial completes acquisition of BentallGreenOak |url=https://businesschief.com/corporate-finance/sun-life-financial-completes-acquisition-bentallgreenoak |website=businesschief.com |language=en |date=19 May 2020}}</ref> It is considered one of the largest real estate investment firms in [[North America]].<ref>{{Cite web |title=Forest Recovery Canada {{!}} Bentall Green Oak |url=https://frc-rfc.ca/case_studies/bentall-green-oak |access-date=2022-10-10 |website=Forest Recovery Canada}}</ref>
'''BentallGreenOak''' is a real estate investment firm based in [[Toronto]] and New York City. The firm is the real estate investment arm of [[Sun Life Financial]].<ref name="bchief">{{cite web |title=Sun Life Financial completes acquisition of BentallGreenOak |url=https://businesschief.com/corporate-finance/sun-life-financial-completes-acquisition-bentallgreenoak |website=businesschief.com |language=en |date=19 May 2020}}</ref> It is considered one of the largest real estate investment firms in North America.<ref>{{Cite web |title=Forest Recovery Canada {{!}} Bentall Green Oak |url=https://frc-rfc.ca/case_studies/bentall-green-oak |access-date=2022-10-10 |website=Forest Recovery Canada}}</ref>


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.<ref>{{Cite web |date=2022 |title=The PERE 100 bounces back |url=https://www.harrisonst.com/wp-content/uploads/2022/06/The-PERE-100-Bounces-Back.pdf |website=Harrison Street}}</ref>
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.<ref>{{Cite web |date=2022 |title=The PERE 100 bounces back |url=https://www.harrisonst.com/wp-content/uploads/2022/06/The-PERE-100-Bounces-Back.pdf |website=Harrison Street}}</ref>
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== Background ==
== Background ==


BentallGreenOak is the result of a merger between two firms, Bentall Kennedy and GreenOak Real Estate that occured in 2019. <ref name="FP" /><ref name=":0">{{Cite web |date=2021-01-18 |title=The Bentall GreenOak merger was 'like two puzzle pieces coming together' {{!}} PERE |url=https://www.perenews.com/bentall-greenoak-merger-like-two-puzzle-pieces-coming-together/ |access-date=2022-10-10 |archive-url=https://web.archive.org/web/20210118043741/https://www.perenews.com/bentall-greenoak-merger-like-two-puzzle-pieces-coming-together/ |archive-date=2021-01-18 }}</ref><ref name=":1">{{Cite web |date=2018-12-19 |title=Sun Life to merge Bentall Kennedy real estate business with GreenOak |url=https://www.investmentexecutive.com/news/industry-news/sun-life-to-merge-bentall-kennedy-real-estate-business-with-greenoak/ |access-date=2022-10-10 |website=Investment Executive |language=en}}</ref><ref name=":2">{{Cite web |last=Baba2018-12-19T13:49:00+00:00 |first=Razak Musah |title=Bentall Kennedy and GreenOak merger creates $47bn global real estate platform |url=https://realassets.ipe.com/news/bentall-kennedy-and-greenoak-merger-creates-47bn-global-real-estate-platform/10028740.article |access-date=2022-10-10 |website=Real Assets |language=en}}</ref>
BentallGreenOak is the result of a merger between two firms, Bentall Kennedy and GreenOak Real Estate that occured in 2019.<ref name="FP" /><ref name=":0">{{Cite web |date=2021-01-18 |title=The Bentall GreenOak merger was 'like two puzzle pieces coming together' {{!}} PERE |url=https://www.perenews.com/bentall-greenoak-merger-like-two-puzzle-pieces-coming-together/ |access-date=2022-10-10 |archive-url=https://web.archive.org/web/20210118043741/https://www.perenews.com/bentall-greenoak-merger-like-two-puzzle-pieces-coming-together/ |archive-date=2021-01-18 }}</ref><ref name=":1">{{Cite web |date=2018-12-19 |title=Sun Life to merge Bentall Kennedy real estate business with GreenOak |url=https://www.investmentexecutive.com/news/industry-news/sun-life-to-merge-bentall-kennedy-real-estate-business-with-greenoak/ |access-date=2022-10-10 |website=Investment Executive |language=en}}</ref><ref name=":2">{{Cite web |last=Baba2018-12-19T13:49:00+00:00 |first=Razak Musah |title=Bentall Kennedy and GreenOak merger creates $47bn global real estate platform |url=https://realassets.ipe.com/news/bentall-kennedy-and-greenoak-merger-creates-47bn-global-real-estate-platform/10028740.article |access-date=2022-10-10 |website=Real Assets |language=en}}</ref>


Bentall Kennedy was a Canadian real estate investment firm that was a subsidiary of [[Sun Life Financial]].<ref name=":0" /><ref name=":1" />
Bentall Kennedy was a Canadian real estate investment firm that was a subsidiary of [[Sun Life Financial]].<ref name=":0" /><ref name=":1" />


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]]. <ref name=":3">{{Cite news |date=2010-08-02 |title=Ex-M.Stanley bankers launch new property venture |language=en |work=Reuters |url=https://www.reuters.com/article/greenoak-idUKLDE67103I20100802 |access-date=2022-10-10}}</ref>
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]].<ref name=":3">{{Cite news |date=2010-08-02 |title=Ex-M.Stanley bankers launch new property venture |language=en |work=Reuters |url=https://www.reuters.com/article/greenoak-idUKLDE67103I20100802 |access-date=2022-10-10}}</ref>


In 2019, Sun Life Financial acquired a 56% stake in GreenOak Real Estate by paying $195 million in cash.<ref name=":1" /> Then Sun Life merged the two firms to form BentallGreenOak. Bentall Kennedy CEO, Gary Whitelaw would become CEO of the new entity.<ref name="FP" /><ref name=":0" /><ref name=":2" />
In 2019, Sun Life Financial acquired a 56% stake in GreenOak Real Estate by paying $195&nbsp;million in cash.<ref name=":1" /> Then Sun Life merged the two firms to form BentallGreenOak. Bentall Kennedy CEO, Gary Whitelaw would become CEO of the new entity.<ref name="FP" /><ref name=":0" /><ref name=":2" />


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. <ref name=":3" /><ref>{{Cite web |title=John Carrafiell Appointed as co-CEO and Board Director for BentallGreenOak |url=https://markets.businessinsider.com/news/stocks/john-carrafiell-appointed-as-co-ceo-and-board-director-for-bentallgreenoak-1030571327 |access-date=2022-10-10 |website=markets.businessinsider.com |language=en}}</ref><ref>{{Cite web |date=2020-08-03 |title=BentallGreenOak plans senior leadership change – Exclusive {{!}} PERE |url=https://www.perenews.com/bentallgreenoak-plans-senior-leadership-change-exclusive/ |access-date=2022-10-10 |archive-url=https://web.archive.org/web/20200803050425/https://www.perenews.com/bentallgreenoak-plans-senior-leadership-change-exclusive/ |archive-date=2020-08-03 }}</ref>
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.<ref name=":3" /><ref>{{Cite web |title=John Carrafiell Appointed as co-CEO and Board Director for BentallGreenOak |url=https://markets.businessinsider.com/news/stocks/john-carrafiell-appointed-as-co-ceo-and-board-director-for-bentallgreenoak-1030571327 |access-date=2022-10-10 |website=markets.businessinsider.com |language=en}}</ref><ref>{{Cite web |date=2020-08-03 |title=BentallGreenOak plans senior leadership change – Exclusive {{!}} PERE |url=https://www.perenews.com/bentallgreenoak-plans-senior-leadership-change-exclusive/ |access-date=2022-10-10 |archive-url=https://web.archive.org/web/20200803050425/https://www.perenews.com/bentallgreenoak-plans-senior-leadership-change-exclusive/ |archive-date=2020-08-03 }}</ref>


== Investments ==
== Investments ==
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== Disputes ==
== Disputes ==


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.<ref name=":4">{{Cite web |last=Bushor |first=Alison |date=2021-05-05 |title=BentallGreenOak Wins $6M Over Failed Miami Office Tower Deal |url=https://therealdeal.com/miami/2021/05/05/east-end-capital-australian-investors-lose-suit-over-6m-deposit-in-failed-downtown-miami-office-tower-sale/ |access-date=2022-10-10 |website=The Real Deal South Florida |language=en-US}}</ref> The court ruled in favour of BentallGreenOak resulting in East End Capital's side being required to pay back a $5.5 million deposit.<ref name=":4" />
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.<ref name=":4">{{Cite web |last=Bushor |first=Alison |date=2021-05-05 |title=BentallGreenOak Wins $6M Over Failed Miami Office Tower Deal |url=https://therealdeal.com/miami/2021/05/05/east-end-capital-australian-investors-lose-suit-over-6m-deposit-in-failed-downtown-miami-office-tower-sale/ |access-date=2022-10-10 |website=The Real Deal South Florida |language=en-US}}</ref> The court ruled in favour of BentallGreenOak resulting in East End Capital's side being required to pay back a $5.5&nbsp;million deposit.<ref name=":4" />


==References==
==References==

Revision as of 00:00, 28 October 2022

BentallGreenOak
Company typeSubsidiary
IndustryReal estate
private equity
Founded1 July 2019; 5 years ago (2019-07-01)[1]
FounderSonny Kalsi (Co-CEO)
John Carrafiell (Co-CEO)
Amy Price (President)
Headquarters1 York Street, Toronto, Canada
399 Park Avenue, New York City, U.S.
Number of locations
28 offices
AUMUS$80 billion (Q2 2022)
Number of employees
1,231 (2021)[2]
ParentSun Life Financial
Websitewww.bentallgreenoak.com

BentallGreenOak is a real estate investment firm based in Toronto and New York City. The firm is the real estate investment arm of Sun Life Financial.[3] It is considered one of the largest real estate investment firms in North America.[4]

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.[5]

Background

BentallGreenOak is the result of a merger between two firms, Bentall Kennedy and GreenOak Real Estate that occured in 2019.[1][6][7][8]

Bentall Kennedy was a Canadian real estate investment firm that was a subsidiary of Sun Life Financial.[6][7]

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.[9]

In 2019, Sun Life Financial acquired a 56% stake in GreenOak Real Estate by paying $195 million in cash.[7] Then Sun Life merged the two firms to form BentallGreenOak. Bentall Kennedy CEO, Gary Whitelaw would become CEO of the new entity.[1][6][8]

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.[9][10][11]

Investments

Disputes

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.[21] The court ruled in favour of BentallGreenOak resulting in East End Capital's side being required to pay back a $5.5 million deposit.[21]

References

  1. ^ a b c "BentallGreenOak Announces Closing of Merger Forming a Leading Global Real Estate Investment Platform". Financial Post. 2 July 2019.
  2. ^ "2022 Corporate Responsibility Report – GRI Disclosures" (PDF).
  3. ^ "Sun Life Financial completes acquisition of BentallGreenOak". businesschief.com. 19 May 2020.
  4. ^ "Forest Recovery Canada | Bentall Green Oak". Forest Recovery Canada. Retrieved 2022-10-10.
  5. ^ "The PERE 100 bounces back" (PDF). Harrison Street. 2022.
  6. ^ a b c "The Bentall GreenOak merger was 'like two puzzle pieces coming together' | PERE". 2021-01-18. Archived from the original on 2021-01-18. Retrieved 2022-10-10.
  7. ^ a b c "Sun Life to merge Bentall Kennedy real estate business with GreenOak". Investment Executive. 2018-12-19. Retrieved 2022-10-10.
  8. ^ a b Baba2018-12-19T13:49:00+00:00, Razak Musah. "Bentall Kennedy and GreenOak merger creates $47bn global real estate platform". Real Assets. Retrieved 2022-10-10.{{cite web}}: CS1 maint: numeric names: authors list (link)
  9. ^ a b "Ex-M.Stanley bankers launch new property venture". Reuters. 2010-08-02. Retrieved 2022-10-10.
  10. ^ "John Carrafiell Appointed as co-CEO and Board Director for BentallGreenOak". markets.businessinsider.com. Retrieved 2022-10-10.
  11. ^ "BentallGreenOak plans senior leadership change – Exclusive | PERE". 2020-08-03. Archived from the original on 2020-08-03. Retrieved 2022-10-10.
  12. ^ "BentallGreenOak acquires Montréal skyscraper 1250 René-Lévesque". www.lexpert.ca. Retrieved 2022-10-10.
  13. ^ "Eastgate mall under new ownership". The Hamilton Spectator. 2013-12-24. ISSN 1189-9417. Retrieved 2022-10-10.
  14. ^ "Groupe Petra and Groupe Mach Team Up To Buy Montreal's KPMG Tower". www.costar.com. Retrieved 2022-10-10.
  15. ^ "Permanent Leasing". North Hill Centre. 2018-10-28. Retrieved 2022-10-10.
  16. ^ "FOREVER GREEN". www.thepencentre.com. Retrieved 2022-10-10.
  17. ^ "Richardson Centre Limited". James Richardson & Sons, Limited. Retrieved 2022-10-10.
  18. ^ "Contact – 150 King West". Retrieved 2022-10-10.
  19. ^ International, Retail & Leisure (2021-01-15). "BentallGreenOak Welcomes Two New Regional Assets to Portfolio". Retail & Leisure International. Retrieved 2022-10-10.
  20. ^ "Bentall Kennedy acquires shopping centre portfolio from CPPIB". Building. 2013-12-19. Retrieved 2022-10-10.
  21. ^ a b Bushor, Alison (2021-05-05). "BentallGreenOak Wins $6M Over Failed Miami Office Tower Deal". The Real Deal South Florida. Retrieved 2022-10-10.
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