NEW YORK, March 30, 2026 /PRNewswire/ -- BGO, a leading global real estate investment manager, and Bell Partners, a premier U.S.-based multifamily investment and operating company, announced today that they have entered into an agreement to combine their businesses to deepen their position as a leader across both the commercial and the multifamily sectors. This partnership is a result of the recent announcement of the acquisition of Bell Partners by Sun Life Financial Inc., BGO's parent company.
The transaction is expected to close in the second half of 2026, subject to receipt of regulatory and Toronto Stock Exchange approvals and satisfaction of customary closing conditions. Upon closing, the combined global real estate business of BGO and Bell Partners will represent more than $100 billion of assets under management.
The opportunity brings together two highly complementary platforms at a time when investor demand for institutional-quality multifamily exposure in the United States continues to grow, supported by resilient housing fundamentals and structural undersupply.
Upon closing, Bell Partners will continue to operate as a distinct, vertically integrated business under BGO and will oversee the broader company's U.S. multifamily assets. Bell Partners will be led by its existing leadership team, with full accountability for investment strategy, execution, and performance, and will maintain its integrated investment and property management model, preserving the attributes that have defined its success.
"This partnership reflects our strong conviction in the U.S. multifamily market and underscores our commitment to building deep expertise in sectors where we believe there is significant long-term opportunity," said Amy Price, Co-President, BGO. "Bell Partners has built an exceptional platform with a proven 50-year track record in multifamily that complements our firm's culture and expertise in U.S. commercial and logistics sectors, supported by our global resources."
"For 50 years, Bell Partners has been defined by a strong culture of caring and performance while passionately serving our Residents" said Lili Dunn, CEO and President, Bell Partners. "This opportunity will extend Bell's operating and investment expertise across a larger residential platform and strengthen our depth and reach. It is a natural step in our evolution, preserving the essence of what has made us successful, while also opening new opportunities for the future."
Bell Partners will operate as it does today, retaining its company and property brand, the current leadership team, and focus on investment and property management.
PJT Partners served as exclusive financial advisor to Sun Life and Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel for this transaction. Morgan Stanley & Co. LLC acted as an exclusive financial advisor and Hogan Lovells acted as legal counsel for Bell Partners.
About BGO
BGO is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $90 billion USD of assets under management (as of December 31, 2025) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 25 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment. For more information, please visit www.bgo.com
About Bell Partners
Established in 1976, Bell Partners Inc. is a privately held apartment investment and management company focused on quality multifamily rental communities throughout the United States. The Company manages approximately 70,000 apartment homes in 12 regions across the U.S., including communities in Seattle, San Francisco Bay Area, Southern California, Denver, Dallas/Ft. Worth, Austin, Atlanta, Central and Southeast Florida, Charlotte/Raleigh, Washington, D.C., and Boston. With approximately 1,800 associates and nine offices, Bell Partners offers an extensive full-service vertically integrated national platform of expertise in property management, acquisitions, construction, financing, accounting, risk management, and related support functions. Led by a senior management team with an average of 28 years of experience, Bell Partners has invested throughout all phases of the real estate cycle and has completed almost $12 billion of realized apartment transactions since 2002. For more information, visit www.bellpartnersinc.com
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SOURCE BGO
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