Bell Partners Adds to Charlotte Portfolio with Acquisition of 266-Unit Multifamily Community
Bell Riverbend Village is the 5th Bell-owned property and 80th managed in North Carolina
CHARLOTTE, N.C. – June 26, 2021 – Bell Partners Inc., one of the nation’s leading apartment investment and management companies, has acquired Riverbend Apartments, a 266-unit apartment community located in Charlotte, N.C. The property, acquired on behalf of the firm’s Fund VII investors, will be renamed Bell Riverbend Village and marks the 80th community managed by Bell Partners in its home state of North Carolina.
Bell Riverbend Village’s location offers residents a balance of connectivity, walkability and proximity to employment and entertainment centers. The community is embedded within Charlotte’s Riverbend Village, a mixed-use development featuring 185,000 square feet of retail space and 370,000 square feet of office space. The development also houses major employers in the area including Corning Optical Communications’ headquarters and Novant Health’s planned 250,000 square foot medical campus that will feature a full-service hospital and several medical office buildings.
Bell Riverbend Village is adjacent to convenient transportation options including Highway 16/Brookshire Blvd. and I-485, providing access to Uptown Charlotte, Southwest Charlotte and University City. Recreational highlights near Bell Riverbend Village include Mountain Island Lake, Pine Island Country Club and the U.S. National Whitewater Center.
“Our purchase of Bell Riverbend Village represents a continuation of our strategy to seek investment opportunities in growth markets and high growth locations. The Bell operating platform will also seek to enhance the living experience of current and future residents, which will build upon the work done by the original developer.” said Nickolay Bochilo, EVP of Investments at Bell Partners. “With Bell Partners’ long history in North Carolina, we have a deep understanding of the state’s economic fundamentals, and this new addition to our portfolio reflects our conviction that this market will continue to experience outsized growth.”
Built in 2020, Bell Riverbend Village features modern amenities and new-construction finishes. Community amenities include a summerhouse with a fireplace and dining area, a resort-style pool, a dog park and pet washing stations, an endless rock-climbing wall, fully equipped fitness center and electronic car charging stations
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.
Contact:
John Perilli
Prosek Partners for Bell Partners Inc.
(401) 316-3375
jperilli@prosek.com