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Back To News May 3, 2021

Bell Partners Acquires Fort Lauderdale Multifamily Community to Expand South Florida Portfolio

Bell Partners Acquires Fort Lauderdale Multifamily Community to Expand South Florida Portfolio

Bell Sunrise is the 11th Bell-owned property in South Florida

GREENSBORO, N.C. – April 29, 2021 – Bell Partners Inc., one of the nation’s leading apartment investment and management companies, has acquired Satori Apartments, a 279-unit apartment community located in Fort Lauderdale, Fla. The property, acquired on behalf of the firm’s Fund VII Investors, will be renamed Bell Sunrise.

Built in 2010, Bell Sunrise is located within two miles from the Atlantic Ocean and offers residents convenient access to work and leisure. The employment corridor connecting downtown Fort Lauderdale, Cypress Creek, Sunrise Plantation, Hollywood, Miramar and Boca Raton supports over 46,000 jobs at major employers including American Express, Motorola Solutions and Fox Sports. For time outside of work, Bell Sunrise is situated across the street from Holiday Park, which has tennis and basketball courts, a dog park, pickleball courts, a playground and a recreation center. The community is also close to a cluster of local boutiques, restaurants, fine-arts and recreation and entertainment options in Downtown Fort Lauderdale and Flagler Village.

“Bell Sunrise deepens our portfolio in the South Florida market, which has been a major beneficiary of the job and population migration trends that have accelerated in the past 12 months,” said Nickolay Bochilo, EVP of Investments at Bell Partners. “Favorable housing demand drivers in the area, coupled with an opportunity to enhance the physical features of the community, make this investment an attractive fit for our value-add Fund. Our team plans to perform common area and unit interior upgrades to enhance resident experience with features that enable flexible and remote work environment.”

Bell Sunrise’s community amenities include a clubhouse with a gathering area and kitchen, 24/7 fitness center and aerobics room, two steam rooms and dry saunas, an infinity edge pool with private cabanas, a meditation garden, spa and treatment rooms, onsite retail and dining, a dog park and a business center. Each unit has walk-in closets, double master bathroom sinks with large soaker tubs and walk-in showers, oversized bedrooms, expansive living areas with additional office space, as well as large private balconies. Bell Partners closely follows guidelines from local, state and federal health authorities regarding the operation and cleanliness of community amenities.

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 63,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has over 1,500 associates and ten offices (including its headquarters in Greensboro, N.C.) and offers an extensive and full-service platform containing expertise in acquisitions and dispositions, construction, 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 $16 billion of apartment transactions since 2002, including over $1.2 billion in 2020 transactions. For more information, visit our website at www.bellpartnersinc.com.

Contacts:
John Perilli / Allie Rudden
Prosek Partners for Bell Partners Inc.
(212) 279-3115
jperilli@prosek.com / arudden@prosek.com

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