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Bell Partners Acquires Shrewsbury Apartments via Value-Add Fund
Bell Partners, among the nation’s largest apartment investment and management companies, said Wednesday it had acquired Quinn35, a community containing 250 apartment homes and located in Shrewsbury, MA. Terms weren’t disclosed. Bell Partners has managed the community since 2019.
Located at 35 Harrington Ave., the property was acquired on behalf of the company’s Bell Value-Add Fund VIII and will be renamed Bell Shrewsbury. With this acquisition, Bell Partners now owns or manages a portfolio of approximately 3,600 apartment homes in nine apartment communities throughout the Boston metropolitan area.
“Boston is one of the 12 target markets across the U.S. that we’ve identified to acquire well-located, quality assets for our Value-Add Fund,” said Nickolay Bochilo, CIO at Bell Partners. “This acquisition supports the fund’s strategy of finding opportunities to add value-enhancing upgrades that appeal to our current and future residents and meet our investment objectives.”
Vice chairman Simon Butler, managing director of CBRE’s Northeast & Mid-Atlantic region, brokered the transaction.
- ◦Sale/Acquisition
