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BGO and 1Sharpe have launched a joint-venture that will invest in build-to-rent housing projects in the U.S.

BGO Commits $500M to Build-to-Suit Rentals JV

BGO and 1Sharpe have launched a joint-venture that will invest in build-to-rent housing projects in the U.S.

Miami-based BGO has committed US$500 million to the project, the company announced. BGO originated in Canada through a predecessor company that subsequently merged with U.S.-based Green Oak. A global asset management and real estate operations specialist, BGO has an extensive Canadian footprint and is part of SLC Management under the umbrella of Toronto-based Sun Life, one of Canada’s largest institutional investors.

“BGO’s entry into the build-to-rent, single-family rental sector is driven by a strong, long-term conviction in the investment merits of housing which continues to benefit from demographically driven demand and a material deficit of housing units,” said BGO Co-CEO John Carrafiell in a news release.

The BGO-1Sharpe partnership will focus exclusively on acquiring purpose-built, connected single-family rental home communities in American secular growth markets with access to amenities, employment centres and strong school districts.

The JV has already closed on its first acquisition, a new 64-home community located in the Phoenix metropolitan areas. The partners also have an “extensive pipeline opportunities” located across sunbelt and Western markets.

Oakland-based 1Sharpe is an institutional investment manager and real estate operator.

Pictured: BGO-1Sharpe’s new 64-unit rental housing community in the Phoenix area.

Photo: Courtesy of BGO


Inside The Story

John CarrafiellBGO1Sharpe

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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