Bell Partners Acquires 261-Unit Ballard Apartment Building for $95M

Bell Partners, a national apartment owner and property management firm based in North Carolina, has bought the 261-unit Leva on Market building in Seattle’s Ballard neighborhood.

Located at 1545 NW Market Street, the property is a mixed-use apartment community featuring studio, one- and two-bedroom units. BlackRock-linked limited liability company Ballard Apartments LLC purchased the land in 2006 for $4.9 million, reported the Puget Sound Business Journal. The eight-story, 350,000-square-foot apartment building was completed in 2008.

Following the acquisition, the building has been renamed Bell Ballard. Ground-floor retail tenants at the building include the salons Waxing the City and Tropical Tan of Ballard. This is Bell Partners’ second apartment building in Seattle and seventh multifamily property in the Puget Sound region. The firm also owns three apartment buildings in Redmond, one in Kirkland and one in Lynnwood.