Bell Partners Announces Executive Team Transitions Following a Record Year of Multifamily Transaction Volume
Lili Dunn named CEO; Jon Bell to assume role of Executive Chairman. Steven Bell to become Chairman Emeritus. Company completed almost $5 billion of transaction volume in 2021.
GREENSBORO, N.C. – January 10, 2022 – Bell Partners Inc. (“Bell Partners” or the “Company”), one of the nation’s leading apartment investment and management companies, today announced transitions in its executive team in accordance with its long-planned leadership succession goals.
The Company named Lili F. Dunn as Chief Executive Officer in addition to her current role as President. Ms. Dunn joined Bell Partners in 2010 as Chief Investment Officer and has served as President of the Company since 2016. She was recently named 2021 “Executive of the Year” by Multi-Housing News. Jon D. Bell was named Executive Chairman, transitioning from his previous role as CEO. Mr. Bell joined Bell Partners in 2001, became President in 2008, and was named CEO in 2016. Steven D. Bell was named Chairman Emeritus, transitioning from his previous role as Chairman. Mr. Bell founded the Company in 1976 and has served as Chairman since 2016.
In addition to the leadership transitions, the Company has expanded its Executive Committee with the addition of Nickolay N. Bochilo, Executive Vice President of Investments, and Joseph F. Cannon, Executive Vice President of Portfolio Management. Mr. Bochilo joined the Company in 2001; Mr. Cannon joined the Company in 2009.
The leadership transitions are effective on March 1, 2022 and follow a record year of investment activity for the Company, with approximately $4.8 billion of apartment transaction volume completed in 2021. The transaction volume represents the Company’s strategic focus on deepening its investment and management platform in 14 target markets nationwide. Bell Partners currently owns and/or manages approximately 70,000 apartment homes throughout the U.S. and is actively investing in markets located in the Northeast, Mid-Atlantic, Southeast, Texas, and West Coast.
Commenting on the announcement, Jon Bell said, “These promotions are part of a deliberate strategic plan to continue Bell’s successful evolution well into the future. We have a deep bench of experienced leaders and are well-positioned to continue our 45-year history of strong results.”
“I am grateful and honored to expand my leadership role at Bell Partners,” commented Lili Dunn. “I am fortunate to work with an outstanding team and together, we will continue to deliver strong performance for our residents, partners and clients.”
The implementation of the Company’s leadership succession plan will not result in changes in ownership of Bell Partners. The Bell family will remain the combined majority owners of the Company. Shares representing approximately 25% of the Company’s ownership were transferred to non-Bell family executives beginning in December 2019.
About Bell Partners Inc.
Established in 1976, Bell Partners Inc. is a privately held, vertically integrated apartment investment and management company focused on high-quality multifamily rental communities throughout the United States. The Company currently manages approximately 70,000 apartment homes nationwide with over 1,600 associates and ten regional offices (in addition to its headquarters in Greensboro, N.C.). Bell Partners offers an extensive full-service platform of expertise in acquisitions and dispositions, construction, financing, property operations, accounting, risk management, and related support functions. The Company is led by a senior management team with an average industry experience of over 20 years. Bell Partners has invested throughout all phases of the real estate cycle and has completed over $22 billion of apartment transactions since 2002. For more information, visit www.bellpartnersinc.com.
Contact:
Josette Thompson / John Perilli
Prosek Partners for Bell Partners Inc.
(212) 279-3115
jthompson@prosek.com / jperilli@prosek.com