BGO and Bell Partners announced an agreement to combine their businesses, creating a major U.S. investment management platform with deep expertise in multifamily real estate. The move follows the acquisition of Bell Partners by Sun Life Financial Inc., the parent company of BGO.
The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions. Once completed, the combined real estate platform will represent more than $100 billion in assets under management.
The partnership brings together complementary capabilities across commercial and multifamily real estate at a time when demand for institutional-quality multifamily investments in the U.S. remains strong, driven by housing supply constraints and resilient fundamentals.
Following the close, Bell Partners will continue to operate as a distinct, vertically integrated business within BGO. The company will maintain its leadership team and retain responsibility for investment strategy, execution, and performance while overseeing the broader organization’s U.S. multifamily assets.
Bell Partners will also preserve its integrated model spanning investment and property management, continuing its focus on multifamily communities across key U.S. markets. The company currently manages approximately 70,000 apartment homes and has completed nearly $12 billion in apartment transactions since 2002.
Support: Advisors on the transaction included PJT Partners and Morgan Stanley & Co. LLC as financial advisors, along with Paul, Weiss, Rifkind, Wharton & Garrison LLP and Hogan Lovells as legal counsel.
KEY QUOTES:
“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. 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.”
Amy Price, Co-President, BGO
“For 50 years, Bell Partners has been defined by a strong culture of caring and performance while passionately serving our Residents. 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.”
Lili Dunn, CEO And President, Bell Partners
