GREENSBORO, NC—Bell Partners just closed on its seventh apartment fund. At $950million, it was oversubscribed from its $800 million target andwith leverage added it has $2.5 billion in purchasing power.
It's a value-add strategy fund focusing on market-rateapartments in 14 markets across the US. The fund plans to add valuein part by capitalizing on price dislocations. At this particularand peculiar point in the market, price dislocation might refer todistress opportunities but that is not what Bell Partners has inmind. Rather the fund, which began its marketing early last year,is targeting more typical value-add opportunities, according topresident Lili Dunn.
"When we say price dislocation we are referring to acquiring aproperty at a favorable basis," Dunn tells GlobeSt.com. "That meanssolving a problem that is difficult for others to do and gettingappropriate risk adjusted returns for doing so."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
