Source: Bell Partners / #Apartments #Multifamily
GREENSBORO, NC - Bell Partners Inc., one of the nation's leading apartment investment and management companies, announced that it has completed the final close of Bell Apartment Fund V, LLC with $425 million of total equity commitments. The Fund will invest in high-quality, well-located multifamily properties across the East Coast, Southwest and Western United States and will enhance value by leveraging Bell's extensive operating platform.
The Fund's investor base is comprised of institutional investors and accredited high-net-worth individuals, many of whom are investors in Bell's previous funds. Bell Partners was ranked as one of the highest "top performing, consistent" real estate fund managers by the 2015 Preqin Global Real Estate Report for the second year in a row.
Jon Bell, President of Bell Partners Inc., said: "We are very pleased with the reception that Fund V received from domestic and international investors. The positive investor response to the Fund demonstrates confidence in Bell's strategy, management team, and vertically integrated operating platform, as well as recognition of our strong track record. We are confident that this investment opportunity will generate attractive current income and provide strong total returns."
The Fund seeks to invest in multifamily properties in targeted geographic regions with healthy fundamentals that, through renovation, enhanced operations, and/or investing in transitioning locations, will produce superior returns with relatively low risk. The Fund will seek to create a geographically diverse portfolio of high-quality apartment communities in supply-constrained submarkets, near major infrastructure and employment centers.
Since 2002, Bell has completed over $10 billion of apartment transactions on behalf of its investors.