Warner Center Buy Reflects Bell’s Focus on Long-Term Fundamentals

Bell Partners Inc. recently acquired Hanover Warner Center, a 395-unit apartment community in Los Angeles, for an undisclosed purchase price. The community, purchased on behalf of the firm’s Bell Core Fund I investors, will be renamed Bell Warner Center.

Bell Warner Center is minutes from U.S. 101 in the San Fernando Valley. Nearby Warner Center, which houses 10 million square feet of office space, is home to companies such as Intuit, Blackline and AMC Networks. Additional employers near the community include Warner Bros., Netflix and Morgan Stanley.

Bell Warner Center was built in 2020 in the center of Warner Center’s downtown, home to numerous retail outlets, restaurants and entertainment venues along with the campuses of UCLA, USC, Pepperdine and other Los Angeles universities.

“The acquisition of this community reflects our focus on finding high-quality properties in areas with attractive long-term economic fundamentals,” said Nickolay Bochilo, EVP of investments at Bell Partners. “The choice of a desirable suburban location in the Los Angeles metro reflects our view that suburbs will continue to benefit from demographic and migration shifts that have been accelerated during the COVID pandemic.”

Walker & Dunlop’s Blake Rogers, Hunter Combs, Alexandra Caniglia and Javier Rivera represented the sellers, The Hanover Company and Goldman Sachs Asset Management. Craig West and Justin Nelson, who specialize in multifamily finance at Walker & Dunlop, worked alongside the team to arrange acquisition financing on behalf of the buyer, Bell Partners.