Bell Partners Acquires Two Apartment Communities in Boca Raton, FL

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Back To News April 22, 2008

Bell Company Adds Two Properties Valued at More Than $60 Million

Bell Company Adds Two Properties Valued at More Than $60 Million

Steven D. Bell & Company-sponsored entities recently closed on the purchases of a high-rise multifamily property in Atlanta and a shopping center in the Tidewater Virginia region. The properties, Bennington Towers in Atlanta’s prime Buckhead area and Haygood Shopping Center in Virginia Beach, are valued at $35.6 million and $24.9 million respectively. Bell Principal Jon Bell commented, “In light of the volatile stock and bond markets, our clients seem to be grateful for their real estate investment exposure. These two properties should provide good diversification for our Fund II portfolio.” Bennington Towers is a 17-story, 236-unit apartment building located on Buckhead’s Peachtree Road near its intersection with Peachtree Battle Road. The Bell company has announced plans for a $5 million renovation at Bennington Towers, including granite countertops, new appliances and balcony reconstructions. Haygood Shopping Center is a 178,533 square foot center anchored by Farm Fresh, Marshalls and Rite-Aid. It has high-visibility in the densely populated Tidewater area at the corner of Independence Boulevard and Haygood Road. Steven D. Bell & Company’s management portfolio is now valued in excess of $5.3 billion. It includes more than 58,000 apartments in 212 locations, 24 senior living communities and more than 5.6 million square feet of retail and office properties in 111 cities.


About Bell Partners Inc.

Established in 1976, Bell Partners Inc. (“Bell Partners” or the “Company”) is a privately held, vertically integrated apartment investment and management company focused on high-quality multifamily communities throughout the United States. Bell Partners has over 60,000 units under management and over 20,000 apartments under renovation. The Company has over 1,600 associates and 6 offices (including its headquarters in Greensboro, NC) and offers an extensive and full service operating platform containing expertise in acquisitions and dispositions, financing, property operations, construction, accounting, risk management, market research and all other related support functions. Bell Partners is led by a senior management team with an average of over 20 years of experience that has invested throughout all phases of the real estate cycle and has helped the Company complete over $10 billion of apartment transactions since 2002, including almost $1.5 billion of activity in 2015 alone. For more information, visit our website at www.bellpartnersinc.com.


CONTACTS:

Kevin Thompson
Phone: 336.232.1993
Email: bkthompson@bellpartnersinc.com


Laurenn Wolpoff
Phone: 917.518.9011
Email: lwolpoff@prosek.com

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