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.
