Bell Partners Acquires Newly Developed Multifamily Community in Chapel Hill, N.C.
Bell Chapel Hill marks the 85th community managed by Bell Partners home state of North Carolina
GREENSBORO, N.C. – September 8th, 2021 – Bell Partners Inc., one of the nation’s leading apartment investment and management companies, has acquired The Elliott, a newly built 272-unit apartment community located in Chapel Hill, N.C. The property, acquired on behalf of the firm’s Bell Core Fund I Investors, will be renamed Bell Chapel Hill and marks the 85th community managed by Bell Partners in its home state of North Carolina.
Bell Chapel Hill is located in Chapel Hill’s Blue Hill District and is positioned in the Research Triangle, one of the fastest growing metropolitan areas and employment centers in the country. Situated just off I-40, the property’s location provides residents direct access to major employers including Apple’s Future Campus, Google’s Engineering Hub and numerous biotech and life science employers. Bell Chapel Hill is also proximate to leading research universities such as University of North Carolina at Chapel Hill (UNC), Duke and North Caroline State University.
The Blue Hill District offers ample retail, dining and recreation options to residents of Bell Chapel Hill. The area’s walkability provides convenient access to several retail and grocery destinations including Whole Foods and Trader Joes as well as the University Place and Eastgate shopping centers.
“Bell Chapel Hill is an exciting addition to our Bell Core Fund I portfolio” says Nickolay Bochilo, EVP of Investments at Bell Partners. “The Raleigh-Durham area continues to be a magnet for STEM jobs, which fuels an increasing demand for high quality housing in the region.”
Construction of the property finished in 2021, featuring modern amenities such as a fitness center, a pool with a sundeck and a coworking lounge with Wi-Fi for residents.
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 70,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has over 1,600 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. The Company has completed approximately $1.3 billion in transactions in 2021. For more information, visit our website at www.bellpartnersinc.com.
Contact:
John Perilli
Prosek Partners for Bell Partners Inc.
(401) 316-3375