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831-Unit Plano Project Picked by Bell Partners
Through its Value Add Fund VIII, Bell Partners has acquired Gateway Crossing Apartments, an 831-unit multifamily property in Plano, Texas. Soon after, the company rebranded it as Bell Gateway Village. BH Equities sold the property, which is at 380 Vistacourt Drive. CBRE Daniel Baker brokered the transaction.
Commercial Edge reports the buyer obtained a $119.5 million Fannie Mae loan originated by Walker & Dunlop.
Completed in 2017, Bell Gateway Village encompasses 20 two- and three-story buildings spread across almost 26 acres. The unit mix consists of one-, two-, and three-bedroom floorplans ranging from 611 to 2,686 square feet.
Common-area amenities include a fitness center, three swimming pools, a clubhouse, a barbecue and picnic area, a yoga and spin studio, and a movie theater. Additionally, the property has a dog park, outdoor fireplace, courtyard, lounge and conference room.
- ◦Sale/Acquisition
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