In a city defined by constant change, enduring partnerships are rare and effective. For nearly a decade, Hullmark and BentallGreenOak (BGO) have built a relationship rooted in shared values, complementary strengths, and a long-term commitment to the city of Toronto.

What began in 2016 as a strategic co-investment in a portfolio of urban commercial assets has grown into a programmatic partnership spanning office, mixed-use, and urban industrial properties. Together, Hullmark and BGO have scaled the venture from an initial $85 million investment to more than $500 million in assets under management through disciplined execution and operational alignment.

At its core, the relationship reflects a balance of perspectives: Hullmark’s entrepreneurial, site-specific development approach paired with BGO’s institutional discipline and global investment platform.

“Alignment between private and institutional capital can achieve meaningful, lasting results.”

- Ross Strowger, Managing Director & Portfolio Manager, BGO

For Hullmark, partnership is non-transactional. It centers on long-term stewardship of capital, physical infrastructure, and neighbourhood contexts.

The venture’s track record is anchored by several signature joint investments across Toronto’s key employment areas. In Liberty Village, the partnership brought to life 60 Atlantic - an adaptive reuse of a historic heritage structure - and the adjacent 80 Atlantic, Toronto’s first modern unencumbered mass-timber commercial building. Further west, the joint venture invested in Radiator, a multi-tenant commercial complex that reimagined industrial heritage space for modern tech, design, and retail tenants.

The partnership extended its reach into urban industrial and future master-planning with the acquisition of 250 Bowie Avenue in the Castlefield Design District. At 250 Bowie, the partners identified stable in-place industrial income alongside future density potential driven by the Eglinton Crosstown LRT and the Caledonia transit interchange.

This measured approach has allowed the venture to expand across nearly 800,000 square feet of real estate while maintaining a precise focus: design-focused, transit-adjacent, urban infill assets.

“We’re not focused on single deals. We’re building a portfolio that grows over time.”

- Jeff Hull, President & CEO, Hullmark

That shared strategy scales further at Beltline Yards, the partners’ proposed multi-phase master-planned community at Bowie Avenue and Caledonia Road.

Set adjacent to regional rail connections and rooted in the site's manufacturing history, Beltline Yards represents a broader district-scale vision. Designed by Allies and Morrison, the master plan integrates purpose-built rental housing, light industrial employment space, street-level retail, and dedicated public space.

Projects like 60 Atlantic, 80 Atlantic, Radiator, and Beltline Yards signal the maturity of the Hullmark–BGO partnership: the capacity to execute complex commercial repositioning, long-term asset management, and large-scale city-building side by side.

Hullmark and BGO’s ongoing collaboration demonstrates how private development expertise and institutional capital can operate in tandem to deliver long-term value across Toronto's urban landscape.