Frisco Apartment Asset Part of Portfolio Sale

A Frisco apartment community was one of four properties acquired by Bell Partners. The portfolio totaled 846 apartment homes located in four of its target markets. Other markets included Colorado, Georgia and Southern California. The total purchase price was $313 million. The portfolio was purchased on behalf of Bell Apartment Fund VII investors. One of the four properties included Residences at Starwood, in Frisco, to be renamed Bell Starwood.

Bell’s Nickolay Bochilo explains the strategy, “We are excited to acquire a portfolio of high-quality, differentiated properties located in submarkets with healthy supply and demand fundamentals.”

Located in Frisco, Residences at Starwood was completed in 1998 and contains 234 apartment homes in a low-density setting. The community features townhome style units with a high concentration of two- and three-bedroom floorplans and amenities including garages, private entries, a fitness studio, and a dipping pool.