BGO Acquires 26 Wellington Street East Office Tower in Downtown Toronto

BGO has acquired 26 Wellington Street East, a 12-storey, Class A office tower in downtown Toronto, the firm announced July 9, 2026. The approximately 176,360-square-foot property expands BGO's office footprint in Toronto's Downtown Core as the firm targets well-located assets amid what it describes as strengthening market fundamentals.

Property Overview and Acquisition Details

The building, constructed in 1981, is located in downtown Toronto with close proximity to the PATH network and Union Station. The property carries LEED Platinum certification and features unobstructed south-facing views over Berczy Park. At 98% occupancy, the tower is anchored by a roster of institutional-quality tenants, leaving limited vacancy across the asset.

BGO did not disclose the purchase price, cap rate, or financing terms for the transaction. Cushman & Wakefield acted as broker. Osler, Hoskin & Harcourt LLP and Stikeman Elliott LLP served as legal counsel for BGO.

BGO's Strategic Rationale

"As we continue to target assets that combine strong fundamentals with long-term durability, 26 Wellington reflects that approach: well-located, transit-oriented, and supported by a strong tenant base," said Devon Howsam, Principal at BGO. "BGO's vertically integrated platform in Canada positions us to unlock further value at the property, strengthen its market profile, and deliver meaningful benefits for our investors and tenant community alike."

BGO said the acquisition aligns with its focus on high-quality buildings in prime urban locations. The firm cited improving conditions in the Toronto office market, including record net absorption, declining Class A vacancy, increasing return-to-office activity, and limited new supply expected through the remainder of the decade.

BGO Properties to Manage the Asset

BGO Properties, the firm's in-house property management, operations, and leasing platform, will provide comprehensive property management services at 26 Wellington Street East. The firm said BGO Properties will focus on enhancing the tenant experience, accelerating leasing performance, and maximizing the property's long-term value.

About BGO

BGO is a global real estate investment management advisor and provider of real estate services. The firm serves more than 750 institutional clients and, together with Bell Partners Inc. — which was acquired by Sun Life and combined with BGO on July 2, 2026 — manages approximately US$100 billion in assets under management as of March 31, 2026. BGO's portfolio spans office, industrial, multi-residential, retail, and hospitality properties across more than 25 cities in twelve countries. BGO is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.

Sources: BGO Press Release, July 9, 2026