Bell Partners Profits Off Chapel Hill Property, Twice

Mesirow Financial acquired the Bell Meadowmont apartments in Chapel Hill for $83.6 million. The financial services firm bought the complex from Bell Partners of Greensboro. The Triad Business Journal reports Bell Partners acquired the apartment complex in 2017 for $51 million, giving the company a $32.5 million return in six years. Before that, Bell had previously owned the property – it sold the complex in 2013 for $49 million. Mesirow Financial has since changed the name of the apartments to The Reserve at Meadowmont.

The Reserve at Meadowmont has 258 units spread across 20 buildings. Unit rents go from $1,805-$2,873. Some units have a patio or balcony, sunroom and fireplace.

Amenities include a swimming pool with sundeck, grilling stations, community garden, dog park, fitness studio with spin bikes, java bar and lounge, business center and complimentary cruiser bike rentals.

Newmark’s Sean Wood led a team that handled the transaction.