Bell Partners Continues U.S. Expansion with Austin Buy

Bell Partners Inc. recently acquired Lenox Boardwalk, a 339-unit apartment community in Austin. The property, purchased on behalf of the firm’s Bell Core Fund I investors, will be renamed Bell Lakeshore. Located two miles from Austin’s central business district, the property is adjacent to Oracle’s 40-acre campus, which recently became the company’s new headquarters. Continued job growth is expected in the area with several planned office developments.

The acquisition represents Bell Partners’ fourth in Texas in 2021 as the firm continues its U.S. expansion in the central and western regions.

“Our investment in Bell Lakeshore reflects our belief in the continued increase of high-quality jobs in Austin and the corresponding demand for quality housing,” said Nickolay Bochilo, executive vice president of investments at Bell Partners. “We seek investment opportunities in growth markets with favorable supply and demand characteristics, leading to stable growth over time and limited downside risk.”

Built in 2018, Bell Lakeshore’s amenities include both traditional and lap pools along with 498 parking spaces.