Bell Partners Closes Eighth Value-Add Fund at $1.3B
Bell Partners Inc. has closed its Value-Add Fund VIII at a hard cap of $1.3 billion in equity commitments from a range of domestic and international investors. With leverage, the new fund has investment capacity of approximately $3.2 billion.
Fund VIII will deploy a value-add investment strategy, acquiring well-located, quality market-rate apartments in 14 target markets nationwide including Boston; Washington, DC; Raleigh; Charlotte; Atlanta; Fort Lauderdale; Orlando; Tampa; Austin; Dallas; Denver; Los Angeles; San Francisco; and Seattle. Value creation strategies include renovations, enhanced operations and investment in transitioning neighborhoods.
“We are grateful for the support of our investors and are committed to consistently delivering strong performance throughout a full market cycle by leveraging our national platform and deeply experienced team,” said CEO and president Lili Dunn.
Hodes Weill Securities, LLC acted as Bell Partners’ placement agent. The close of Fund VIII follows 2022’s $930-million Bell Core Venture.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).