Bentall Kennedy and GreenOak Real Estate merged to form BentallGreenOak in 2019. Bentall Kennedy was a Canadian real estate investment firm that was a subsidiary of
Sun Life Financial In 2019, Sun Life Financial acquired a 56% stake in GreenOak Real Estate by paying $195 million in cash. In February 2023, it was reported that BGO has been building its US commercial real estate lending platform. In September 2023, BGO introduced move-in-ready offices for
SME tenants seeking flexibility in
hybrid work arrangements. 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. 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. == Investments ==