Source: Bell Partners
GREENSBORO, NC - Bell Partners, one of the nation's leading apartment investment and management companies, announced it has acquired Lansbrook Village, a 774-unit apartment community located in Palm Harbor, Florida. In a separate transaction, the Company also announced it has acquired Presidio East, a 312-unit apartment building in Fort Worth, Texas. Lansbrook Village was acquired on behalf of Bell Value-Add Fund VIII investors and will be renamed Bell Lansbrook Village. Presidio East was acquired on behalf of Bell Core Fund I investors and will be renamed Bell Presidio.
"By leveraging our local market knowledge and differentiated deal flow, we have acquired two properties in quality locations that, with careful underwriting and a disciplined approach to risk management, can each provide attractive returns to our investors," said Nickolay Bochilo, EVP of Investments at Bell Partners. "Bell Lansbrook Village is our first acquisition for Value-Add Fund VIII and offers the ability to immediately create value through renovations and enhanced management practices. Bell Presidio is well-suited for our Core Fund I venture as it provides a stable performance history in a location with attractive growth prospects."
Completed in several phases between 1998 and 2004, Bell Lansbrook Village is a low-density community with direct entry, townhome style units in one-, two-, three- and four-bedroom floor plans. The 85-acre property boasts a range of high-quality amenities, including three pools, tennis courts, a fitness center and a pet park. The property's location offers convenient commuter access to downtown Tampa and downtown St. Petersburg. Ample retail and dining locations, beaches, an 18-hole championship golf course and walking trails are all within minutes of the property.
Completed in 2017, Bell Presidio is a low-density community with modern interior finishes and an attractive unit mix of larger floorplans providing desirable options to a wide range of prospective residents. Amenities include a two-story fitness center and large saltwater pool. The property is located in North Fort Worth near Alliance Town Center, top-ranked schools and major employment centers including the Alliance Texas global logistics hub.