IRVINE, CA - Bell Partners, one of the nation’s largest apartment investment and management companies, today announced the acquisition of two apartment communities, one in the San Francisco Bay Area and one in the Greater Boston area.
Celeste is a 195-home Class A rental community completed in 2024 and located in South San Francisco, CA. It has been rebranded as Bell South City West. Reading Commons is a 204-home community completed in 2006 and located in Reading, MA, roughly 30 minutes north of downtown Boston. It has been rebranded as Bell Reading Commons. Both properties are located near large technology and life sciences employment hubs and expand the firm’s presence in markets supported by favorable long-term economic and demographic trends.
“These acquisitions reflect Bell’s commitment to creating exceptional places to live in some of the country’s most dynamic markets,” said Nickolay Bochilo, Chief Investment Officer at Bell Partners. “We intend to enhance both communities through targeted upgrades and service improvements that elevate the resident experience. Our conviction in these communities is rooted in Bell’s ability to serve a diverse range of residents and support their housing needs in desirable locations with strong economic fundamentals.”
Bell South City West, South San Francisco, CA
Bell South City West is a seven-story mid-rise community located adjacent to the company’s Bell South City community. The property was acquired from Sares-Regis and was funded through the Bell Growth & Income Fund. Berkadia served as the broker for the transaction.
Located near Oyster Point, one of the nation's premier life sciences and technology hubs, the community benefits from its proximity to leading employers including Genentech, Amgen, AbbVie, Pfizer, NVIDIA, Google, OpenAI and other companies that fuel demand for high-quality rental housing throughout the region.
The acquisition brings Bell Partners’ presence in the Bay Area to six apartment communities containing a total of 1,271 apartment homes.
Bell Reading Commons, Reading, MA
Bell Reading Commons is a distinctive low-density community featuring spacious apartments and townhomes in one of Boston's most desirable suburban markets. The property was acquired on behalf of investors in Bell Value-Add Fund VIII.
Conveniently located near Interstate 93 and Route 128, the community offers residents easy access to Downtown Boston and one of the country's largest suburban employment corridors. Bell Partners plans to enhance the resident experience through thoughtful upgrades to apartment interiors and community amenities over time.
With the addition of Bell Reading Commons, Bell Partners now owns or manages six communities comprising approximately 1,461 rental homes throughout the Greater Boston region.
Walker & Dunlop Capital Markets Investment Sales, led by Travis D’Amato, arranged the sale of the property.
About Bell Partners: Established in 1976, Bell Apartment, LLC dba Bell Partners is one of the nation's largest apartment investment and management companies, focused on quality multifamily rental communities throughout the United States. The Company manages approximately 65,000 apartment homes in 12 regions across the U.S., including communities in Seattle, San Francisco Bay Area, Southern California, Denver, Dallas/Ft. Worth, Austin, Atlanta, Central and Southeast Florida, Charlotte/Raleigh, Washington, D.C., and Boston. With approximately 1,800 associates and nine offices, Bell Partners offers an extensive full-service vertically integrated national platform of expertise in property management, acquisitions, construction, financing, accounting, risk management, and related support functions. Led by a senior management team with an average of 27 years of experience, Bell Partners has invested throughout all phases of the real estate cycle and has completed almost $12 billion of realized apartment transactions since 2002.
For more information, visit www.bellpartnersinc.com