Bell Partners Announces Sale of Dallas Property
Greensboro, NC— Bell Partners Inc., one of the nation’s leading apartment investment and management companies, announced today that, on behalf of its investors, it has sold Bell Carlyle, located in Dallas, Texas, to Lincoln Property Company. The transaction closed on October 30th, 2012. Bell-sponsored investors originally purchased the property in September 2009. At the close, management of the property was transferred from Bell Partners to Lincoln Property. The 180-unit community contains one and two bedroom apartment homes. Its resort-like amenities include a pool pavilion with sundeck, private cabanas, a 24/7 fitness center and a well-equipped clubhouse. The community is located in close proximity to Southern Methodist University, major highways and easily accessible to the Downtown Dallas area. Nickolay Bochilo, Vice President of investments at Bell Partners said, “The successful sale of Bell Carlyle has provided significant benefit to our clients, and is a reflection of a focused strategy execution and beneficial timing on both the purchase and the sale of this investment.”
About Bell Partners Inc.
Bell Partners Inc. is one of the country’s leading apartment investment and management companies. The company invests capital on behalf of accredited high net worth and institutional investors. Through its Bell Apartment Living division, the company is the 10th largest apartment operator in the United States, according to the National Multi-Housing Council. Founded more than 35 years ago and now employing approximately 1,700 associates, Bell Partners oversees a portfolio valued at over $4.4 billion across 15 states, mostly in the Mid-Atlantic, Southeast and Southwest. Bell Partners now owns or operates 246 apartment properties, located generally in the Mid-Atlantic, Southeast and Southwest. Bell’s portfolio includes more than 69,000 apartments.
CONTACTS:
Kevin Thompson
Phone: 336.232.1993
Email: bkthompson@bellpartnersinc.com
Laurenn Wolpoff
Phone: 917.518.9011
Email: lwolpoff@prosek.com