Bell Partners acquires four multifamily communities for $313m

Bell Partners has acquired a portfolio of four apartment communities totaling 846 apartment homes located in four of its target markets. The total purchase price was $313 million.

The portfolio was purchased on behalf of Bell Apartment Fund VII investors. The four properties acquired include Sidney at Morningside, located in Atlanta (to be renamed Bell Morningside); Residences at Starwood, located in Frisco, Texas (to be renamed Bell Starwood); Touchstone Apartments, located in Broomfield, Colo., (to be renamed Bell Broomfield); and Montecito Apartments, located in Santa Clarita, Calif., (to be renamed Bell Valencia).

“We are excited to acquire a portfolio of high-quality, differentiated properties located in submarkets with healthy supply and demand fundamentals,” said Nickolay Bochilo, executive vice president of investments at Bell Partners. “At a time of increased turbulence in the capital markets, this portfolio fits our long-term strategy of pursuing invest