Sun Life announced a series of multi-billion-dollar commercial real estate moves Monday, that will impact businesses and properties on both sides of the Canada-U.S. border

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

In addition, Sun Life has agreed to acquire Bell Partners, a leading U.S. multi-family real estate manager that has 70,000 apartments across the U.S. for US$350 million.

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

Pictured: Boston apartment property owned by Bell Partners:

Photo: Bell Partners