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Recent Multifamily Buy Boosts Bell’s Profile to Three Seattle Assets
A recent acquisition represents Bell Partners’ third owned community in the Seattle metro area and continues the firm’s expansion on the West Coast. Its latest acquisition is Modera Jackson, a 160-unit apartment community in the heart of the historic Central District.
The property, acquired on behalf of the firm’s Fund VII investors, will be renamed Bell Jackson Street. Including Bell Jackson Street, Bell Partners owns and/or manages more than 1,200 apartment units across six properties in West Coast markets including Seattle, the Bay Area and Los Angeles.
“With the acquisition of Bell Jackson Street, we are thrilled to grow our Seattle portfolio with a focus on locations that offer strong long-term growth prospects,” said Nickolay Bochilo, EVP of Investments at Bell Partners. “Despite near-term economic challenges, we continue to believe in the long-term economic fundamentals of the Seattle metro area. The city’s top-tier educational institutions, the culture of innovation and presence of some of the world’s leading companies provide a strong foundation for job and population growth in the coming years.”
Built in 2018, Bell Jackson Street features views of the Seattle skyline, Puget Sound and the Cascade Range.
The seller was Boca Raton, FL-based Mill Creek Residential. Institutional Property Advisors, a division of Marcus & Millichap, served as broker on the transaction.
For comments, questions or concerns, please contact Lisa Brown
- ◦Sale/Acquisition
