Sun Life acquires remaining BGO stake for over $1B

Sun Life Financial Services has taken whole ownership of Miami Beach-based BGO for $1.2 billion. The acquisition is the first step in Sun Life’s plan to merge BGO with Bell Partners, a Greensboro, North Carolina-based real estate investment firm with $10 billion in assets under management, the South Florida Business Journal reported. That includes its portfolio of more than 70,000 apartments.  Sun Life is buying a 100 percent ownership stake in Bell for $350 million, citing the nationwide housing crisis and market growth in the multifamily sector, according to a news release.  That brings Sun Life’s spend on the merger […]This article originally appeared on The Real Deal. Click here to read the full story.