Bell Partners Completes Sale of Dallas, TX Property
GREENSBORO, N.C. (May 15, 2017) — Bell Partners Inc., one of the nation’s leading apartment investment and management companies announced on behalf of its investors that the Company has completed the sale of Bell Park Central in Dallas, Texas. The terms of the sale were not disclosed. Bell Park Central, acquired by Bell Fund IV in August 2011, is an upscale apartment and townhome community in Dallas, TX. The community’s convenient location just off Central Expressway provides easy access to major employers around the DFW.
Nickolay Bochilo, SVP Investments, Bell Partners, said, “As a result of exceptional teamwork by the Bell team, a successful asset repositioning program, and strong operating performance during our ownership period, the sale of this asset generated attractive risk adjusted returns for our investors.”
During 2016, Bell completed nearly $1.3 billion in total apartment transactions. To date this year, Bell has completed approximately $425 million in total apartment transactions.
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. With approximately 60,000 units under management, Bell Partners is the 15th largest apartment operator in the United States (according to The National Multi-Housing Council, 2017) and one of the largest renovators in the country. The Company has over 1,600 associates and 7 offices (including its headquarters in Greensboro, N.C.) and offers an extensive and full service platform containing expertise in acquisitions and dispositions, financing, property operations, accounting, risk management 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 $12 billion of apartment transactions since 2002, including nearly $1.3 billion in 2016 transactions. 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