Bell Partners said Tuesday it has sold 23 apartment communities located across the United States for over $1.8 billion.
“We are thrilled to deliver exceptional results to our investors,” said Lili Dunn, President of Bell Partners. “Our extensive platform and innovative approach have enabled us to outperform consistently over multiple decades. We value the relationships with our investors and are grateful for their trust and support.”
In addition to the recent dispositions, Bell Partners has been actively investing capital on behalf of Bell Value-Add Fund VII and Bell Core Fund I in high-quality apartment communities located throughout the company’s target markets, including recently purchased assets in Seattle, San Francisco, Los Angeles, Dallas, Austin, Ft. Lauderdale, Atlanta, Charlotte, Raleigh, Washington, D.C., and Boston. The company has completed approximately $4.3 billion of acquisitions and dispositions so far in 2021.
“Despite the economic disruption caused by Covid, the performance of our portfolio has remained resilient,” said Jon Bell, CEO of Bell Partners. “We have experienced some of the strongest market fundamentals in the 45-year history of the company. We remain optimistic about the long-term demographic and lifestyle trends for the U.S. multifamily rental sector, and we will continue to be a judicious acquirer and opportunistic seller of apartment communities throughout the country.”