October 22， 2025
Global real estate investment firm BentallGreenOak (BGO) has successfully closed a $260 million co-investment fundraise dedicated to the development of data centers across the United States. The capital will fuel the construction of a significant new pipeline of digital infrastructure.
The co-investment vehicle was established alongside BGO's US Industrial Strategies I fund, which has now reached its final close with approximately $800 million in total equity. The data center-specific co-investment attracted nine additional institutional investors, supplementing the nine domestic pension funds, insurance groups, and high-net-worth backers already committed to the main fund.
BGO announced it is in advanced stages of securing up to 800MW of power capacity in aggregate, a critical enabler for the construction of up to 3.2 million square feet (297,289 square meters) of new data center space. Specific locations for these developments were not disclosed.
This inaugural US Industrial Strategies fund features a portfolio of eight industrial projects developed in partnership with NorthPoint Development. Three of these sites are specifically planned for data center development. The overall portfolio spans more than 1,500 acres nationwide, with a total buildable area of 17.1 million square feet (1.58 million square meters). To date, 6.4 million square feet (594,579 square meters) has been constructed, with 5 million square feet (464,515 square meters) already leased to institutional-grade tenants.
"What we’ve been able to achieve to date through Industrial Strategies I reflects growing investor conviction in BGO’s ability to deliver the next generation of state-of-the-art digital infrastructure," said John Carrafiell, co-CEO of BGO. "By combining institutional real estate expertise with deep utility-grade energy insight, we’re creating three shovel-ready powered sites with access to critical infrastructure—substations, transmission lines, and fiber networks. In today’s power-constrained environment, our data science-driven approach enables us to identify and deliver precisely what hyperscale users need—at scale, speed, and certainty."
BGO, a global real estate investment management advisor with approximately $86 billion in assets under management, is part of SLC Management, the institutional asset management business of Sun Life. The firm has a growing focus on digital infrastructure, having recently launched its own data center platform, BGO DataCenters, which claims a European pipeline exceeding 1.2GW of capacity. BGO is also an investor in Nordic data center firm Bulk and previously acquired two IBM data centers in Canada.
Its development partner, Kansas City-based NorthPoint Development, is aggressively expanding its own data center business. The company reports it controls 37 powered land sites across 17 states, totaling more than 15,600 acres and representing 4.8GW of potential data center capacity. NorthPoint has filed plans for several projects in Pennsylvania, including in Philadelphia, Hazle Township, and Packer Township.
SOURCE DCD
