Bell Acquires Luxury Property in Chesapeake, VA
On behalf of the Investment Services Group, we are pleased to announce that Bell Fund III and a group of high net worth ownership entities purchased Alta Great Bridge Apartments as scheduled today. The property is a 192-unit multifamily community offering one, two and three bedroom luxury apartment homes located on approximately 12.3 acres in Chesapeake, Virginia. We plan on implementing a new branding strategy and will rename the property as Bell Great Bridge Apartments. The asset is the eighth acquisition by Bell Fund III and will be managed by Bell Partners Inc. Bell Great Bridge was built in 2009, contains about 199,398 square feet of rental space, is 91.67% occupied, has 8 residential two/three story buildings as well as a clubhouse, resort-style swimming pool, fitness center, business center, billiard room, cyber cafe, and parking garages to name a few amenities. The very spacious and functional floor plans offer an average of 1,039 square feet in addition to nine-foot ceilings with crown molding, walk-in closets, gourmet kitchens, garden tubs, washer/dryer connections, sunrooms and built-in computer stations are also available. The property information is:
Bell Great Bridge Apartments
124 Fairwind Dr Chesapeake, VA
Phone (757) 382-0660
Fax (757) 382-0662
greatbridge@bellpartnersinc.com
http://www.bellgreatbridge.com
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. Bell Partners has over 60,000 units under management and over 20,000 apartments under renovation. The Company has over 1,600 associates and 6 offices (including its headquarters in Greensboro, NC) and offers an extensive and full service operating platform containing expertise in acquisitions and dispositions, financing, property operations, construction, accounting, risk management, market research 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 $10 billion of apartment transactions since 2002, including almost $1.5 billion of activity in 2015 alone. For more information, visit our website at www.bellpartnersinc.com
CONTACTS:
Kevin Thompson
Phone: 336.232.1993
Email: bkthompson@bellpartnersinc.com
Laurenn Wolpoff
Phone: 917.518.9011
Email: lwolpoff@prosek.com