BentallGreenOak to Acquire Metropolitan Real Estate Equity


March 3, 2021

On February 25, 2021, BentallGreenOak announced that it will acquire Metropolitan Real Estate Equity, LLC.

Under the terms of the transaction, BentallGreenOak (“Bentall”) will acquire Metropolitan Real Estate Equity, LLC (“Metropolitan”) from the global investment firm The Carlyle Group Inc. Bentall will gain access to Metropolitan’s integrated primary, secondary, and co-investment platform. The transaction, subject to customary closing conditions, is expected to close in the first half of this year. Further terms of the deal were not disclosed.

Bentall based in Toronto, Canada, is a global real estate investment manager advisor that offers asset management services to office, multi-residential, retail, industrial, and hotel properties. As of December 31, 2020, Bentall served more than 750 institutional clients and had approximately $53 billion in assets under management.

Metropolitan, based in New York, New York, manages U.S. and global closed-end real estate funds and custom account programs that make opportunistic and value-add multi-manager investments. Metropolitan’s strategy involves making primary commitments to funds, acquiring fund interests on the secondary market and participating in direct co-investments with managers. Metropolitan has investments with over 120 managers across 274 fund investments with exposure to over 5,000 assets globally. As of December 31, 2020, Metropolitan had $2.4 billion in assets under management.

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