BentallGreenOak Appoints Co-CEO

John Carrafiell, Co-CEO of BentallGreenOak. Image courtesy of BentallGreenOak

John Carrafiell is the new co-chief executive officer of global real estate investment management advisor BentallGreenOak, additionally becoming a member of the Board of Directors. He joins co-CEO Sonny Kalsi and President Amy Price in forming the company’s global executive team.

Carrafiell was the co-founder of GreenOak Real Estate in 2010, which ultimately grew into a business with $12 billion of assets under management, and activity in 10 countries. GreenOak merged with Bentall Kennedy in 2019, forming BentallGreenOak.

Carrafiell served as senior managing partner of the newly incorporated company, overseeing its European ventures. In his new role based in the U.S., Carrafiell will continue to be in charge of the firm’s European business, among other global responsibilities.

“Together, alongside Sonny Kalsi and Amy Price, our leadership team will continue to elevate our game and focus on the establishment of strategic partnerships that accelerate and deepen our presence in the U.S. market in areas where we see opportunity for growth, including in industrial/logistics, multifamily in demographically growing markets, life sciences and cold storage,” Carrafiell told Commercial Property Executive.

According to Steve Peacher, chairman of the board for BentallGreenOak & president of SLC Management—a majority owner of BentallGreenOak—the company has seen significant growth since the merger. Expanding from $47 to $62 billion of assets under management in just two and a half years, the European market has seen the biggest growth, Peacher said in prepared remarks.

“Sustainability will continue to be a hallmark for the firm and we intend to raise the bar every year on ESG to firmly maintain our historic, global leadership in this important performance metric for our firm,” Carrafiell added.

BentallGreenOak has been bullish on the U.S. industrial market over the past year. Among the flurry of recent ventures, the company committed to $475 million of equity in a logistics and industrial partnership with Dallas-based Xebec in late June. The deal included an initial $170 million investment in a portfolio of stabilized core assets, with the remaining $305 million aimed at funding future Xebec investment opportunities.