Bell Partners Completes Final Close of $930M Multifam Venture, Eyes $1.8B Purchases

Greensboro, NC-based Bell Partners has completed the final close for its core multifamily venture, including Bell Core Fund I. Once fully invested, the company anticipates the venture’s total equity capitalization will be $930 million from a range of domestic and international institutional investors.

With leverage, the venture intends to purchase more than $1.8 billion of multifamily properties in 14 major US markets. The venture has already purchased eight properties located in Atlanta, Austin, Dallas, Los Angeles, Raleigh, San Francisco and Seattle for a total combined purchase price of $900+ million.

“This new venture formalizes a long history of core investing at Bell Partners and complements our value-add investment offerings,” said Lili Dunn, president and incoming CEO of Bell Partners. “With a focused strategy of deepening our presence in each of our key markets across the country, we can leverage our local experience and extensive operating platform to continue delivering outperformance for our investors.”

 Bell Partners completed $4.8 billion in apartment transaction volume in 2021.

Photo: Bell Chapel Hill