John Carrafiell Appointed as co-CEO and Board Director for BentallGreenOak

NEW YORK and LONDON and TORONTO and TOKYO,July 1,2021 --BentallGreenOak (BGO),a global real estate investment management advisor,today announced the appointment of John Carrafiell to co-CEO and member of the Board of Directors for BentallGreenOak,effective July 1,2021. John joins Sonny Kalsi as co-Chief Executive Officer,and alongside Amy Price,president of BGO,the three leaders will form the firm's Global Executive Team.

John Carrafiell Appointed as co-CEO and Board Director for BentallGreenOak

"I am excited for the opportunity to work with our team across BentallGreenOak's global real estate investment management and services platform,and honored to co-lead our team into the future alongside Sonny,Amy and the rest of our global leadership team," said John Carrafiell,co-CEO of BentallGreenOak. "Our business is only becoming more global - with unprecedented secular trends driving investment strategies across markets and clients increasingly looking for global solutions. By unifying our global executive team,we are further positioning BGO to be in lock-step with this evolution."

John will be based in the U.S. with global responsibilities as co-CEO,while continuing to oversee BGO's European business. Based in Europe since 1989,John co-founded GreenOak Real Estate (GreenOak) in 2010,which grew to $12B (USD) of assets under management with investment management activity in 10 countries. Following the merger of GreenOak and Bentall Kennedy,in July 2019,to form BentallGreenOak,John has served as Senior Managing Partner with oversight for the firm's European Business.

"John's appointment to co-CEO of BentallGreenOak is a natural progression and important step forward for the firm," said Steve Peacher,Chairman of the Board for BentallGreenOak and President of SLC Management,the alternatives asset management business of Sun Life and majority owner of BentallGreenOak. "In just two and a half years,BGO has grown substantially since the merger- from $47 billion to $62 billion (USD) in AUM- most significantly in the European market. We are delighted to formally bring John's strategic insights and leadership to BGO's global platform and welcome him to the board as co-CEO."

"John and I have worked together for over 25 years and I'm eager to begin this new chapter in our firm's future alongside him as co-CEO," said Sonny Kalsi,co-CEO of BentallGreenOak. "Since joining forces as co-founders of GreenOak Real Estate 11 years ago,John has led our European team,who have been consistently ahead of the curve in building a pan-European debt business and bringing an early,sharp focus on the logistics sector. BGO has become a market leader in Europe under John's leadership and strategic direction."

"John's expanded leadership as co-CEO will extend the impact of his deep,global investment management experience gained over his 34-year career," said Amy Price,president of BentallGreenOak. "John is already bringing considerable energy and insight to the global team's investment strategies across our Core,Core Plus and Value Add platforms. "

About BentallGreenOak

BentallGreenOak is a leading,global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $62 billion USD of assets under management (as of March 31,2021) and expertise in the asset management of office,industrial,multi-residential,retail and hospitality property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep,local knowledge,experience,and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary,secondary and co-investment markets.

BentallGreenOak is a part of SLC Management,which is the alternatives asset management business of Sun Life.

The assets under management shown above include real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates. As of 1Q21,BentallGreenOak changed its definition of Total AUM to include certain uncalled capital commitments for discretionary capital until they are legally expired and continue to exclude certain uncalled capital commitments where the investor has complete discretion over investment.

For more information,please visit www.bentallgreenoak.com