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Bell Partners Adds Apartments in Four Regions for $313M
Bell Partners Inc. has acquired a portfolio of four apartment communities totaling 846 apartment homes in four of its target markets for a total of $313 million. The portfolio was purchased on behalf of Bell Apartment Fund VII investors.
The four properties include Sidney at Morningside in Atlanta (to be renamed Bell Morningside); Residences at Starwood in Frisco, TX (to be renamed Bell Starwood); Touchstone Apartments in Broomfield, CO (to be renamed Bell Broomfield); and Montecito Apartments in Santa Clarita, CA (to be renamed Bell Valencia).
Nickolay Bochilo, EVP of investments at Greensboro, NC-based Bell Partners, said, “At a time of increased turbulence in the capital markets, this portfolio fits our long-term strategy of pursuing investments in our target markets where we can leverage our local experience and extensive operating platform to enhance performance, using disciplined underwriting to reflect current and projected market conditions.”
- ◦Sale/Acquisition
