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Bell Partners Acquires Two Colorado Rental Assets
Bell Partners acquired Cherrywood Village (located in Parker, Colorado) and Luna Bella (located in Lafayette, Colorado). The properties were purchased on behalf of the Company’s Bell Value-Add Fund VIII in separate transactions for a total of $185 million. The communities have been renamed Bell Parker and Bell Lafayette.
Completed in 2002, Bell Parker is a 360 unit garden style community located at 16950 Carlson Dr. in the Denver submarket of Parker, Colorado. The Company acquired Bell Parker in January from Starwood / SREIT for $103.3 million. JLL acted as the broker.
Completed in 2016, Bell Lafayette is a 240 unit garden style community located at 695 S. Lafayette Dr. in the Denver submarket of Lafayette, Colorado. The Company acquired the community in December from Buchanan Street Partners for $82.5 million. Walker & Dunlop acted as the broker.
With these three acquisitions, Bell Partners now owns or manages a portfolio of 18 communities containing 6,100 apartment homes in the state of Colorado.
- ◦Sale/Acquisition
