Bell Partners Acquires Dallas Area Apartment Community
831-unit property in Plano, TX purchased for Bell Value-Add Fund VIII
GREENSBORO, N.C. – June 24, 2024 – Bell Partners (the “Company”), one of the nation’s largest apartment investment and management companies, today announced it has acquired Gateway Crossing Apartments, an 831-unit apartment community located in Plano, Texas. The community was acquired on behalf of the Company’s Bell Value-Add Fund VIII and will be renamed Bell Gateway Village.
Daniel Baker, vice chairman and the managing director of CBRE’s Central Region, brokered the transaction.
“Bell Gateway Village is an exciting addition to our value-add portfolio,” said Nickolay Bochilo, Chief Investment Officer at Bell Partners. “The opportunity to acquire a low-density, quality apartment community in an evolving location within a strong Dallas-Fort Worth submarket is another example of our ability to pursue and carefully underwrite investments in our target regions where we can leverage our local experience and vertically integrated operating platform to enhance performance.”
Completed in three phases in 2013, 2015 and 2017, Bell Gateway Village is a low-density, garden-style community featuring one, two- and three-bedroom floor plans with an average unit size of 930 square feet. Amenities include three community pools, an oversized fitness center and expansive green space. The property is located close to the U.S. Route 75 and U.S. Route 190 interchange, offering residents easy access to major area employment centers and amenities. CityLine, a 120,000-square-foot mixed-use development anchored by a Whole Foods Market, is located just over two miles from the property.
With this acquisition Bell Partners now owns or manages a portfolio of over 11,400 apartment homes in 34 apartment communities in the Dallas / Fort-Worth region.
About Bell Partners
Established in 1976, Bell Partners Inc. is a privately held apartment investment and management company focused on quality multifamily rental communities throughout the United States. The Company manages approximately 85,000 apartment homes in 12 regions across the U.S., including communities in Seattle, San Francisco Bay Area, Southern California, Denver, Dallas/Ft. Worth, Austin, Atlanta, Central and Southeast Florida, Charlotte/Raleigh, Washington, D.C., and Boston. With over 2,000 associates and ten offices, Bell Partners offers an extensive full-service vertically integrated national platform of expertise in property management, acquisitions, construction, financing, accounting, risk management, and related support functions. Led by a senior management team with an average of 20+ years of experience, Bell Partners has invested throughout all phases of the real estate cycle and has completed over $11 billion of realized apartment transactions since 2002. For more information, visit bellpartnersinc.com.
Media Contact:
Rosie Downey
Allison for Bell Partners
BellPartners@allisonworldwide.com