BGO awarded new mandate to manage Toronto Transit Commission Pension Plan’s 1.7 million sq. ft. commercial real estate portfolio

Toronto (November 28, 2024) - BGO, a leading global real estate investment management firm and provider of real estate services, and the Toronto Transit Commission Pension Plan (TTCPP) today announced that BGO has been awarded a new mandate to take over asset management and property management services for all of TTCPP’s wholly owned properties. Under the terms of the partnership agreement, BGO will manage these properties comprising 1.7 million square feet, while supporting TTCPP to build a global, high-quality real estate portfolio to drive performance and maximize risk-adjusted returns.

As TTCPP’s asset manager, BGO will be responsible for a wide range of management services including portfolio and asset strategy, transaction and financing services, and ESG services. Through BGO Properties, the firm’s in-house property management group, BGO will be responsible for delivering property management services, leasing, and construction management as needed.

“Today’s partnership with BGO enhances our ability to optimize real estate asset management expertise and hands-on property management to strengthen long-term pension sustainability,” said James Clarkson, Acting CEO, TTCPP. “BGO’s expertise will help us enhance current assets and explore new opportunities that balance risk and value for our retirees.”

“We are proud to have earned this important mandate from TTCPP, which entrusts BGO with delivering strong and sustained risk-adjusted returns through our proactive management of their real estate portfolio,” said Christina Iacoucci, Managing Partner, and Head of Canada, BGO. “As a disciplined and deeply committed fiduciary and steward of capital, our aim will be to draw on the considerable strengths of our partnership with TTCPP to deliver on our performance objectives for thousands of hardworking TTCPP members and their families.”

BGO is one of the largest real estate managers in Canada, with $28 billion of AUM and 69 million square feet of assets under administration (as of October 31, 2024) across office, industrial, retail, and multi-family asset classes. BGO’s Canadian platform comprises more than 1,000 employees with a localized presence in seven offices across the country.

About BGO

BGO is a leading, global real estate investment management advisor and a globally-recognised provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $85 billion USD of assets under management (as of September 30, 2024) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 27 cities across thirteen 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.

BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.

The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.

For more information, please visit www.bgo.com

About TTCPP

The TTC Pension Plan (TTCPP) is a defined benefit pension plan that has been helping members ensure their secure financial retirement since 1940. The Plan’s goal is to provide its members with a reliable pension income that members can count on for life. TTCPP is dedicated to serving its members with responsiveness, transparency, and clear communication throughout their careers and into retirement.

The Plan covers over 26,000 members, including employees of the Toronto Transit Commission (TTC), the Amalgamated Transit Union (ATU) Local 113, and the TTCPP. With investment assets exceeding C$9 billion, the Plan remains fully funded.

For more information, please visit www.ttcpp.ca