Bell Partners Acquires Nashville Apartment Community
Greensboro, NC- Bell Partners Inc., one of the nation’s leading apartment investment and management companies, announced today that, on behalf of its investors, it has acquired Grove Franklin Apartments in Nashville (Franklin), Tennessee. The community will be renamed Bell Franklin Gateway and will be managed by Bell Partners.
Bell Franklin Gateway is a well-located multifamily community with one, two and three bedroom apartments and town homes. It contains 186 units, with each apartment averaging 1,032 square feet. The community offers a resort-style swimming pool, 24 hour fitness center, club room with wireless internet access, a business center and picnic area with a fire pit and grills. It is located in close proximity to nationally recognized middle and high schools in the Brentwood area, as well as to the employment center of Franklin / Cool Springs.
Nickolay Bochilo, Vice President of Bell Partners, said, “We are pleased to acquire this high quality and well-located property. As we continue to expand our presence in select and strategic markets in the Southeast, Bell Franklin Gateway will make an excellent addition to our portfolio.”
Bell Partners recently completed the final close of $200 million for its Bell Apartment Fund IV. To date in 2013, Bell has invested in more than $112 million in apartment properties, including the purchase of Bell Franklin Gateway.
About Bell Partners Inc.
Bell Partners Inc. is one of the country’s leading apartment investment and management companies. The company invests capital on behalf of accredited high net worth and institutional investors. Bell Partners is the 7th largest apartment operator in the United States, according to the National Multi-Housing Council. Founded more than 35 years ago, Bell Partners now owns or operates 248 apartment properties, with over 69,000 apartments, located generally along the East coast and Southwest.
CONTACTS:
Kevin Thompson
Phone: 336.232.1993
Email: bkthompson@bellpartnersinc.com
Laurenn Wolpoff
Phone: 917.518.9011
Email: lwolpoff@prosek.com