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Sun Life Financial Closes US$350 Million Acquisition of Bell Partners

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Sun Life Financial (SLF.TO) said Thursday it closed the acquisition of Bell Partners for US$350 million, with about 80% of the purchase price paid in Sun Life shares.

Bell Partners will continue to operate as a separate business under Sun Life's BGO unit, overseeing the company's US multifamily real estate assets, according to the statement.

"The acquisition expands Sun Life's asset management capabilities in one of the largest and most resilient sectors of the US real estate market," the company said.

Bell Partners will keep its current leadership team, property branding, office locations, investment vehicles, and client focus, the company added.

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