Bentall Kennedy and GreenOak Real Estate Announce Merger to Form Bentall GreenOak, Global Real Estate Investment Platform - Seite 2

"The mission critical element in any combination is ensuring that the leadership team and the teams directly managing the investment programs and assets on the ground are able to remain focused on creating value and managing risk," added Messrs. Carrafiell and Kalsi, Co-Founders of GreenOak Real Estate. "This combination of like-minded and compatible firms uniquely allows us to do that - with our clients and fund investors working with the same local specialists with whom they have been working for many years."

"Institutional real estate investment strategies increasingly benefit from a truly global framework. But being successful requires deep local knowledge, a rigorous underwriting culture and strong alignment between investors and the manager," said Steve Peacher, President, Sun Life Investment Management. "Bentall Kennedy and GreenOak each bring this knowledge, disciplined experience and a fiduciary culture to the new combined firm. Sun Life Investment Management is committed to deepening Bentall GreenOak's client/manager alignment by making strategic co-investments in future Bentall GreenOak funds and other initiatives in partnership with Bentall GreenOak's clients and partners," Mr. Peacher added.

As of September 30, 2018, Bentall Kennedy and GreenOak have, in the aggregate, over 700 institutional clients with approximately $47 billion USD / $62 billion CAD in assets under management. Sun Life will have contractual rights to increase its ownership interest in Bentall GreenOak in 2026, though it is expected that a meaningful interest will continue to be held by the Bentall GreenOak management team on an ongoing basis.

Bentall Kennedy and Sun Life Investment Management received financial advice on the transaction from Berkshire Global Advisors and legal advice from Weil, Gotshal & Manges LLP. Evercore provided financial advice to GreenOak and Fried, Frank, Harris, Shriver & Jacobson LLP and Covington & Burling LLP provided legal advice to GreenOak and its owners.

The transaction is subject to customary closing conditions, including required regulatory approvals. The transaction is expected to close in the first half of 2019.

About Bentall Kennedy 

Bentall Kennedy, a Sun Life Investment Management company, is a leading real estate investment advisor and one of North America's foremost providers of real estate services. Bentall Kennedy (which includes Bentall Kennedy (Canada) Limited Partnership, Bentall Kennedy (U.S.) Limited Partnership) serves the interests of more than 545 institutional clients with expertise in office, retail, industrial and multi-residential assets throughout Canada and the U.S. Bentall Kennedy's Investment Management group has approximately $36 billion USD / $48 billion CAD of assets under management (including approximately $18 billion USD / $24 billion CAD of Sun Life General Account Assets, of which $12.3 billion USD are commercial mortgages managed by certain affiliated Sun Life Investment Management entities outside the Bentall Kennedy group under the oversight of individuals who are officers both of Bentall Kennedy and those other affiliates, all as at September 30, 2018). We are one of the largest Real Estate Services providers in Canada, managing more than 60 million square feet on behalf of third-party and investment management clients (as of September 30, 2018).