ASSIGNMENT

 

Hodes Weill & Associates acted as financial advisor to Bentall Kennedy (the “Company”) in connection with its sale to Sun Life Financial Inc. (“Sun Life”) (TSX: SLF) (NYSE: SLF). With over 100 years of history, Bentall Kennedy is a leading real estate investment company serving a global base of institutional clients and investors. Bentall Kennedy specializes in real estate investment management and real estate services, including property management and leasing. As of June 30, 2015, Bentall Kennedy had assets under management of approximately C$28 billion and provided real estate services across 91 million square feet of properties.

 

OUTCOME/RESULTS

Hodes Well advised Bentall Kennedy in connection with its sale to Sun Life for a purchase price of C$560 million. The Company was marketed through a targeted auction process, and the sales process took approximately nine months.  A key consideration was that two of the owners of the Company were also substantial investment clients of the Company and had specific views on the most suitable owners for the platform given that they would remain as clients. The acquisition was part of Sun Life's strategy to broaden its asset management pillar by expanding and diversifying the capabilities of Sun Life Investment Management, which provides investment services to third parties and manages Sun Life's general account. The transaction created one of the largest real estate investment managers globally with combined real estate AUM of approximately C$48 billion and serving over 550 institutional clients and investors at the time of acquisition. As a unit of Sun Life Investment Management, Bentall Kennedy will retain its brand name and be Sun Life's exclusive real estate investment management platform. 

M&A ADVISORY

BENTALL KENNEDY

C $560 Million

COMPLETED 2015

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All U.S. regulated capital market and securities advisory services are provided by Hodes Weill Securities, LLC, a registered broker-dealer with the SEC, and a member of FINRA and SIPC, and internationally, by non-U.S. Hodes Weill affiliates.