Bell Partners acquires Metro D.C. apartment community
Bell Partners has acquired The Thornton, a 439-unit apartment community located in Alexandria, Va. The community was acquired on behalf of the company's Value Add Fund VIII investors and will be renamed Bell Old Town.
“Bell Old Town is our second acquisition for Value-Add Fund VIII and is another example of our ability to leverage a broad presence in our target markets to acquire a well-located, quality asset with careful underwriting and a disciplined approach to risk management,” said Nickolay Bochilo, executive vice president of investments at Bell Partners. “The property provides a unique opportunity to create value and generate attractive returns to our investors by offering modern apartment floorplans with state-of-the-art amenities in a location within walking distance of the attractions of Old Town Alexandria.”
Completed in 2018, Bell Old Town offers studio, one-bedroom, two-bedroom, and two-plus-den floorplans. Amenities include a dog grooming spa; 24-