Bell Partners Announces Acquisition of North Carolina Luxury Apartment Community
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 acquired the Legends at Preston, located in Morrisville, NC. The community will be renamed Bell Preston View and will be managed by Bell Partners. Bell Preston View, completed in 2000, is a luxury complex with one, two and three bedroom apartment homes. Its community amenities include resort-style swimming pools, spa, a covered patio picnic area equipped with gas barbeque grills, and a playground. It also has a clubhouse and 24-hour state-of-the-art fitness center along with a concierge service, business center, billiards area, and on-site storage. Bell Preston View is situated alongside three championship golf courses in the affluent community of Morrisville, known for its strong and diverse economic climate and quality of life. The community is located within close proximity of the I-40 and I-540 beltline, providing easy access to employment centers such as the Research Triangle Park and numerous Fortune 500 corporate offices. It is also nearby various educational institutions, such as Duke University and the University of North Carolina at Chapel Hill, shopping centers and the Raleigh-Durham International Airport. Joe Cannon, President of Bell Partners, said, “We are pleased to acquire this high quality and well located property. As we continue to expand our presence in select and strategic markets in the Southeast, Bell Preston View will make an excellent addition to our portfolio.” This is Bell Partners’ first acquisition in 2013. In 2012, Bell acquired more than $550 million in apartment properties.
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