GREENSBORO, NC – Apartment investment and management company, Bell Partners has completed its final close for its core multifamily venture, including Bell Core Fund I.
Once the venture is fully invested, the company expects its total equity capitalization to reach $930 million, with investments from a range of domestic and international institutional investors.
With leverage, the venture intends to acquire more than $1.8 billion of high-quality multifamily properties across 14 US markets. The venture plans to purchase properties that can generate consistent cash flow with strong appreciation over a long-term investment horizon.
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So far, the core multifamily venture has purchased eight properties in Atlanta, Austin, Dallas, Los Angeles, Raleigh, NC, San Francisco and Seattle for a combined purchase price of more than $900 million.
"This new venture formalizes a long history of core investing at Bell Partners and complements our value-add investment offerings," says Lili Dunn, president and incoming CEO of Bell Partners. "With a focused strategy of deepening our presence in each of our key markets across the country, we can leverage our local experience and extensive operating platform to continue delivering outperformance for our investors."
In 2021, Bell Partners achieved its record investment activity with $4.8 billion in completed apartment transaction volume. The firm has closed eight funds with total equity commitments of $3.5 billion, since it created its fund platform in 2006.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
