Sonny Kalsi is the CEO of BentallGreenOak (BGO) and is based in New York City. BGO is a global real estate investment and management platform with approximately $50BN under management. BGO has 24 offices worldwide (North America, Europe, and Asia) and over 1,300 employees. The firm manages investment strategies and properties in various asset and risk classes.

Sonny previously was a Founder of GreenOak Real Estate in 2010 and together with the team grew the business organically to $12BN of assets under management in 10 countries with over 100 employees. Before GreenOak, Sonny was Global Co-Head of Morgan Stanley’s Real Estate Investing (MSREI) business and President of the Morgan Stanley Real Estate Funds until 2009. At its peak, the platform had approximately $100 billion of assets under management in 33 countries. During his 18-year career at Morgan Stanley, Sonny spent almost 10 years in Asia and has lived and worked in six different locations around the world.

Sonny is a graduate of Georgetown University and continues to be very involved with the school. He has been cited by Private Equity Real Estate magazine as one of the “30 Most Influential” people in private equity real estate globally. Sonny is on the board of several charitable organizations including Teaching Matters, Room to Read, SparkYouth NYC, Asia Society, and the Hirshhorn Museum. He is a Trustee of the Spence School, board member of Oberoi Realty, and Georgetown University. He is also an Adjunct Professor at Columbia University in the Master of Real Estate Program.

John Carrafiell is the Senior Managing Partner of BentallGreenOak. Based in London, John has oversight responsibility for BentallGreenOak's UK and European businesses and is a member of the firm's Investment Committees globally. John co-founded GreenOak Real Estate, one of BentallGreenOak's predecessor firms, in 2010. With his team, he grew GreenOak to $12 billion (USD) of assets under management in 10 countries with over 100 employees in seven countries.

John has a 33-year career in real estate (31 years based in London and Europe). He became Head of European Real Estate for Morgan Stanley in 1994 (at the age of 29) helping to build Europe's leading real estate principal investing, investment banking and mortgage lending franchises. He took over from Owen Thomas as Global Co-Head of Morgan Stanley Real Estate (MSRE) in 2005, running the global real estate investment banking platform as well as the principal investing business with $100 billion (USD) in assets under management in over 33 countries. John served as a member of the Morgan Stanley Global Investment Banking Division's six-person Operating Committee.

John currently serves as a member of the Board and Chairman of the Audit Committee of Klepierre, the second largest REIT in Europe with a €22 billion portfolio of retail assets. He is the New York State Common Retirement Fund's appointed member of the board of Shurgard, Europe's leading and largest self storage company with a public market capitalization of $3 billion (USD). John is a former Trustee of the Urban Land Institute (ULI) and member of its Finance and Endowment Committee, and a former director of the Executive Board of the European Public Real Estate Association (EPRA, the equivalent of NAREIT). John is co-Chairman of the Yale School of Architecture Dean's Council. He is a member of the Board of Overseers of the University of Pennsylvania's School of Design & Architecture and the Tate Modern Acquisitions Committee in London. He is the Chairman of the Chelsea & Westminster Hospital Foundation Trust Development Board. John graduated Yale University with a Bachelor of Arts degree in Philosophy.

Gary Whitelaw is a Senior Advisor at BentallGreenOak. He previously served as the Chief Executive Officer of BentallGreenOak and its predecessor entities from 1998 to June 2020. During that time, Gary led the company through significant growth, geographic expansion, product diversification, and consistently strong financial performance. Gary championed sustainable investing and guided the company to achieving top ranking industry-wide in global ESG benchmarking for over a decade.

Prior to joining BentallGreenOak's predecessor firm in 1998, Gary held a series of progressively senior executive positions in public and private real estate operating and investment firms. At the outset of his career, Gary practiced for several years as a professional architect, working on projects across North America and in the Middle East.

Gary previously served as a director at Welltower from 2017 to 2019, where he chaired the Investment Committee and sat on the board's Executive, Nominating, and Governance committees. He is a past director of Delta Hotels and SilverBirch Hotels & Resorts, where he sat on the Investment and Human Resources committees for both firms. He is a past director of the National Association of Real Estate Investment Managers and a past chair of REALPAC. He has been an active member of the Canadian Business Council since 2005 and has been a frequent speaker in the United States and Canada.

Gary holds degrees in science and architecture from McGill University and an MBA from Harvard University.

Global Executive Team

Andrew Yoon is a Managing Partner and Chief Operating Officer at BentallGreenOak. Andrew is responsible for day-to-day operations of the global business and has oversight of HR and IT.

Andrew was a partner and served as chief operating officer at GreenOak Real Estate a predecessor firm to BentallGreenOak, since its inception in 2010. GreenOak merged with Bentall Kennedy to become BentallGreenOak in 2019, and Andrew continues to serve on the investment committees of all legacy GreenOak funds.

Prior to joining GreenOak, he was a managing director, chief operating officer, and chief financial officer for Morgan Stanley Real Estate Investing in Asia. Andrew has extensive transaction experience in Asia, working in Tokyo from 2003 to 2006 and Hong Kong from 2006 to 2010. Prior to Morgan Stanley, Andrew worked as an investment banker in leveraged finance at Donaldson, Lufkin & Jenrette/Credit Suisse.

Andrew holds a bachelor's degree from the University of California, Los Angeles and an MBA from the University of Pennsylvania's Wharton School.

Richard Crofts is a Managing Partner and the Chief Financial Officer at BentallGreenOak. He has primary platform-wide responsibility for finance, legal, compliance and risk, corporate communications, and corporate initiatives, as well as assisting with strategic matters. He also represents the firm on Sun Life Capital Management's senior leadership team.

Prior to joining the firm in 2010, Richard spent 6 years as executive vice president of corporate development and general counsel and secretary at MI Developments Inc. He was named one of Lexpert's "Top 40 under 40" lawyers in Canada in 2006 and a "Top 40 under 40" in-house counsel in 2005. From 2002 until 2004, he worked in multidisciplinary roles at Magna Entertainment Corp. Before that, he held positions with the Toronto office of the New York law firm Shearman & Sterling LLP and with the Canadian law firm Davies Ward Phillips & Vineberg LLP in Toronto.

Richard is a Chartered Investment Manager (CIM®) and a Fellow of the Canadian Securities Institute (FCSI®). He has a combined MBA/JD from the Schulich School of Business and Osgoode Hall Law School, and he won the Silver Medal in both the business school and the law school. He earned a specialization in finance and financial services in his MBA and also holds a bachelor's degree in commerce from the University of Toronto. Richard is a member of the bar in both Ontario and New York State. He has also been an adjunct professor at Osgoode Hall Law School, where he taught courses and seminars on business associations and corporate governance.

Julie Wong is a Managing Partner and Co-Head of Capital Raising and Investor Relations at BentallGreenOak. In this role, she is responsible for BentallGreenOak's fund formation, global fundraising and investor relations.

Since joining the firm in 2010, Julie has overseen the formation and successful closing of over $11 billion (USD) of equity commitments for the firm's commingled funds and co-investments. She has over 18 years of experience in the real estate industry as an investor, advisor, and operator.

Previously, Julie was an Executive Director at Morgan Stanley in the real estate investment banking and investing division. She played a key role in the formation and fundraising of MSREF VII Global, a $5 billion (USD) opportunistic fund and Morgan Stanley's principal acquisitions in Brazil, Mexico and the US. Julie began her career in real estate in 1997 with Sunterra Resorts focusing on acquisitions and the development of a club system for the portfolio of over 110 properties worldwide.

Julie graduated with a bachelor's degree from Harvard University and an MBA from Columbia University.

Doug Kinney is a Managing Partner and Co-Head of Capital Raising and Investor Relations at BentallGreenOak. He is responsible for client acquisition, raising capital, and ensuring strategic positioning with analysts, investors, and client stakeholders.

Doug brings over 30 years of real estate asset management, client relations, product development, and capital advisory experience to the firm. Most recently, Doug was managing director of global real estate capital formation at The Carlyle Group. Prior to Carlyle, Doug held senior positions with Greenhill & Co., Credit Suisse Private Fund Group, and Heitman/JMB Realty Corporation.

Doug received a bachelor's degree from the University of Tennessee.

Amy Price is a Managing Partner and the Co-Head of U.S. for BentallGreenOak. She has responsibility for the operating and financial performance of the firm's U.S. business and has direct oversight of transactions, asset management, and portfolio management. Amy focuses her time on the Core, Core Plus, and Development parts of the business. Amy chairs the U.S. Investment Committee for the firm's diversified and separate account clients, co-chairs the U.S. Management Committee, and is a member of the Global Coordination Committee.

Prior to joining the firm in 2012, Amy was a managing director and head of real estate investing for the western U.S. at Morgan Stanley, where she was an Investment Committee member and built the real estate investment management business in San Francisco. Amy also spent time in Morgan Stanley's New York and Hong Kong offices.

Amy holds an MBA with distinction from the University of Pennsylvania's Wharton School and graduated magna cum laude from Colgate University.

Chris Niehaus is a Managing Partner and Co-Head of U.S. for BentallGreenOak. He is a member of the U.S., Europe, and Asia Investment committees and has responsibility for the U.S. investment and advisory business.

Chris was previously vice chairman of Morgan Stanley Real Estate Investment Banking from 2006 to 2008, as well as the portfolio manager for Morgan Stanley Real Estate Fund VI International from 2009 to 2010. He led the restructuring and stabilization of the second-largest real estate private equity fund, which had over $33 billion (USD) of assets across 71 investments in over 20 countries.

Chris joined Morgan Stanley in 1981. During his tenure, he helped build and run one of the leading global real estate banking, lending, and investing businesses. He became co-head of global real estate investment banking in 1994 and vice chairman of investment banking in 2006. While at Morgan Stanley, Chris was also an Investment Committee member for the Morgan Stanley Real Estate and Special Situations Funds from 1994 to 2010. Chris led U.S. acquisitions with total invested equity of approximately $900 million (USD), and he served as lead director or board member of a number of Morgan Stanley Real Estate Investing investment companies.

Chris has been a trustee and member of the executive committee of the International Council of Shopping Centers since 1995 and a full member of the Urban Land Institute for over 25 years. He is a summa cum laude graduate of Dartmouth College, where he chaired the Real Estate Advisory Council for over 10 years and serves on the Presidential Leadership Council. He received his MBA from Harvard Business School in 1985. Chris serves as chairman of the board of Student Sponsor Partners of New York City, as well as several other community organizations.

Paul Mouchakkaa is a Managing Partner and Head of Canadian Investment Management at BentallGreenOak. Paul has overall responsibility for the Canadian Investment Management team and oversight for the $25 billion (CAD) Canadian real estate investment portfolio. He joined BentallGreenOak in June 2020.

Prior to joining BGO, Paul was Managing Investment Director of Real Assets at CalPERS. He had responsibility and investment authority for the entire real assets portfolio which included $37 billion (USD) of top tier commercial real estate and $5.5 billion (USD) of infrastructure assets around the globe. In addition to his experience in the fiduciary role at CalPERS, Paul was also Managing Director and Global Head of Research and Strategy at Morgan Stanley Real Estate Investing, as well as, a Managing Director at Pension Consulting Alliance as a lead consultant to pension funds across the US and Canada.

Paul holds an MBA degree in Finance from the University of Oregon, as well as a Bachelor of Arts with Highest Honours in Economics from Carleton University. Paul has served as a Director on the board of the Global Infrastructure Investor Association (GIIA) and on the board of the National Council of Real Estate Investment Fiduciaries (NCREIF).

Tony Astles is a Managing Partner and the Head of Canadian Real Estate Services for BentallGreenOak in Canada with overall responsibility for development, leasing, and operations across all asset classes.

Prior to joining the firm in 1990, Tony worked in senior positions at several companies, including Cushman & Wakefield (formerly Royal LePage) and Campeau Corporation.

Tony holds a degree from the University of Guelph. He is a past president of the Vancouver chapter of the National Association of Industrial and Office Properties, a member of the advisory board of the Urban Land Institute of British Columbia, and a past member of the board of directors at the Urban Development Institute.

Jim Blakemore is a Managing Partner and Head of Debt at BentallGreenOak. Jim has oversight responsibility for the firm's global fixed-income strategies. The BentallGreenOak European debt team manages over $1.9 billion (USD) of capital from institutional investors and is an active lender for commercial real estate properties located in the UK and across western Europe.

Jim was previously European head of the Lehman Brothers Global Real Estate Group for Europe, the Middle East, and Africa. In this role, Jim oversaw Lehman Brothers European on-balance sheet real estate activities, including commercial mortgage and mezzanine lending. At Lehman Brothers, Jim served on its European Operating Committee, European Fixed-Income Executive Committee, and Global Fixed-Income Operating Committee.

Prior to working in London, Jim worked at Lehman Brothers in New York, where he originated and structured mortgage loans and commercial mortgage-backed security transactions. Prior to joining Lehman Brothers, Jim was an attorney at Thacher Proffitt & Wood (New York), where he practiced real estate and securities law.

Jim is a graduate of the New York University School of Law and Lewis and Clark College. He is a member of the Urban Land Institute and the CRE Finance Council. He is also a leader and supporter of several London-based charities and community groups.

Toby Phelps is a Managing Partner and Head of European Equity at BentallGreenOak. Toby has over 23 years of experience in European real estate markets and has been involved in over $20 billion (USD) of transactions across logistics, office, retail, residential, and healthcare assets.

Prior to his current role, Toby was chief executive officer at Investa Office Fund, an Australian office real estate investment trust. Before that, he was managing director and head of UK for Tishman Speyer Properties in London and managing director and head of UK and European hotel investing for Morgan Stanley Real Estate. Toby started his career at Jones Lang LaSalle in London.

Toby holds an honors bachelor of science degree from the University of Reading.

Dan Klebes is a Managing Partner and Head of Japan at BentallGreenOak, based in Tokyo. Dan is Representative Director of GreenOak Investment Management K.K.

Dan has over 30 years of experience in the Japanese real estate market as an investor and investment banker. Prior to joining GreenOak, a BentallGreenOak predecessor firm, Dan founded and led GTO Capital Management, an investment firm where he advised and co-invested with clients in the United States and Japan. Previously, Dan was chief investment officer for Japan for Aetos Capital Asia, where he led a Tokyo-based real estate team of over 100 professionals and grew assets under management by over $6 billion (USD). Dan started his career in 1987 at Goldman Sachs and spent 10 years as a real estate investment banker in Tokyo and New York. In 1997, Dan founded Goldman Sachs' Japanese Real Estate Principal Investment Area, where he led the acquisition of over $5 billion (USD) of Japanese real estate-related investments and helped build Goldman Sachs' property investment and asset management operations from startup to over 200 professionals.

Dan holds a bachelor's degree from Georgetown University and a master's degree in East Asian studies from Stanford University. He has lived in Japan for more than 15 years and is fluent in Japanese.

Marcus Merner is a Managing Partner and the Portfolio Manager for the Asia Value-Add Funds at BentallGreenOak. Marcus is also an Investment Committee member for all of the firm's Asia funds. Since joining the firm, Marcus has been responsible for overseeing all acquisitions and asset management functions within Asia. Marcus is responsible for overseeing underwriting, execution, asset management, and risk management of investments made by the fund.

Prior to joining the firm, Marcus was the chief operating officer of Morgan Stanley Capital Japan and head of Japan for Morgan Stanley Real Estate Investing. He joined Morgan Stanley in 1994 and was based in Japan from 1998 to 2010. Marcus was a key participant in the sub-performing loan and nonperforming loan transactions undertaken by Morgan Stanley Real Estate Fund (MSREF) in Japan. He was also the lead acquisitions officer on many MSREF Japanese investments. During his tenure at Morgan Stanley, he also worked in the Securitized Product Group and Corporate Finance Group. Marcus spent 1 year with The Shidler Group in Honolulu, Hawaii, from 1997 to 1998 prior to returning to Morgan Stanley in 1998.

Marcus graduated with a concentration in real estate finance from the University of Southern California. Marcus was born and raised in Japan and is fluent in Japanese.

Global Managing Partners


  • All Regions
  • All Regions
  • Canada
  • U.S.
  • Europe
  • Asia


  • All
  • All
  • Corporate
  • Investment Management
  • Real Estate Services

Michael Andrews

Managing Partner, Portfolio Manager

Toronto • Canada

David Antonelli

Managing Partner, Portfolio Management

Bethesda • USA

Tony Astles

Managing Partner, Head of Canadian Real Estate Services

Vancouver • Canada

Jim Blakemore

Managing Partner, Head of Debt

London • United Kingdom

Richard Crofts

Managing Partner, Chief Financial Officer

Toronto • Canada

Jonathan Epstein

Managing Partner

Los Angeles • USA

Christina Iacoucci

Managing Partner, Portfolio Manager

Toronto • Canada

Doug Kinney

Managing Partner, Co-Head of Capital Raising and Investor Relations

Chicago • USA

Dan Klebes

Managing Partner, Head of Japan

Tokyo • Japan

Malcolm Leitch

Managing Partner, Head of Canadian Investment Management

Vancouver • Canada

Keith Major

Managing Partner, Canadian Office and Industrial Services

Toronto • Canada

John McFadden

Managing Partner, Portfolio Management

Toronto • Canada

Marcus Merner

Managing Partner, Portfolio Manager, Asia Value Add

Tokyo • Japan

Paul Mouchakkaa

Managing Partner, Head of Canadian Investment Management

Toronto • Canada

Christopher Niehaus

Managing Partner, Co-Head of U.S.

New York • USA

Francesco Ostuni

Managing Partner, CIO, European Equity

London • United Kingdom

Toby Phelps

Managing Partner, Head of European Equity

London • United Kingdom

Wayne Popowich

Managing Partner, Canadian Retail Services

Vancouver • Canada

Amy Price

Managing Partner, Co-Head of U.S.

San Francisco • USA

Mark Van Zandt

Managing Partner, Portfolio Manager, U.S. Value-Add Fund

New York • USA

Julie Wong

Managing Partner, Co-Head of Capital Raising & Investor Relations

New York • USA

Andrew Yoon

Managing Partner, Chief Operating Officer

Los Angeles • USA