CHARLOTTE, NC - Bell Partners, one of the nation's leading apartment investment and management companies, has acquired Riverbend Apartments, a 266-unit apartment community located in Charlotte, N.C. The property, acquired on behalf of the firm's Fund VII investors, will be renamed Bell Riverbend Village and marks the 80th community managed by Bell Partners in its home state of North Carolina.
Bell Riverbend Village's location offers residents a balance of connectivity, walkability and proximity to employment and entertainment centers. The community is embedded within Charlotte's Riverbend Village, a mixed-use development featuring 185,000 square feet of retail space and 370,000 square feet of office space. The development also houses major employers in the area including Corning Optical Communications' headquarters and Novant Health's planned 250,000 square foot medical campus that will feature a full-service hospital and several medical office buildings.
Bell Riverbend Village is adjacent to convenient transportation options including Highway 16/Brookshire Blvd. and I-485, providing access to Uptown Charlotte, Southwest Charlotte and University City. Recreational highlights near Bell Riverbend Village include Mountain Island Lake, Pine Island Country Club and the U.S. National Whitewater Center.
"Our purchase of Bell Riverbend Village represents a continuation of our strategy to seek investment opportunities in growth markets and high growth locations. The Bell operating platform will also seek to enhance the living experience of current and future residents, which will build upon the work done by the original developer," said Nickolay Bochilo, EVP of Investments at Bell Partners. "With Bell Partners' long history in North Carolina, we have a deep understanding of the state's economic fundamentals, and this new addition to our portfolio reflects our conviction that this market will continue to experience outsized growth."
Built in 2020, Bell Riverbend Village features modern amenities and new-construction finishes. Community amenities include a summerhouse with a fireplace and dining area, a resort-style pool, a dog park and pet washing stations, an endless rock-climbing wall, fully equipped fitness center and electronic car charging stations.
Source: Bell Partners