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Sun Life Takes Full Control of BGO, Crescent; Buys Bell

Company: 

Sun Life

Sun Life announced a series of multibillion-dollar commercial real estate moves that will affect businesses and properties on both sides of the Canada-U.S. border.

Toronto-based Sun Life acquired 100% ownership of BGO for $1.59 billion (US$1.16 billion) and of Crescent Capital Group for $829 million (US$ 608 million). BGO is a Miami-based company with Canadian roots. This deal also involves a management equity plan and a stock repurchase.

In addition, Sun Life agreed to acquire Bell Partners, a leading U.S. multifamily real estate manager with 70,000 apartments across the U.S., for US$350 million. The acquisition closed in early July 2026.

BGO and Bell Partners also agreed to merge, representing more than US$100 billion of properties under management. Bell Partners will continue to operate as a distinct, vertically integrated business under BGO.

These are some of the reasons why The Sun Life-Crescent Capital-Bell Partners and BGO deal was selected to receive ApartmentBuildings.com’s AB 100 Transaction of the Year Award, which recognizes those who demonstrate creativity, skill and success in the multifamily industry.

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