Bell Partners acquires apartment community in Virginia on behalf of Fund VII

Bell Partners has acquired Westwind Farms, a 464-unit apartment community in Ashburn, Va., on behalf of its Fund VII for an undisclosed amount.

Fund VII closed in June with $950 million in equity commitments, exceeding its target of $800 million. The value-add strategy will focus on investing in high-quality, market-rate apartment communities in 14 target markets across the United States, according to Bell Partners. The vehicle has the capacity to acquire more than $2.5 billion in apartment investments.

Westwind Farms will be renamed Bell Ashburn Farms and represent Bell Partners' tenth owned community in the DMV area, following the acquisition of Bell Shady Grove last week. Bell Ashburn Farms is located near the Dulles Technology Corridor and the Silver Line Metrorail.

“Bell Ashburn Farms is a beautiful, low-density asset with great renovation upside,” said John Blaylock, senior vice president of investments at Bell Partners. “As the technology sector con