Bell Partners acquires two multifamily communities for two separate funds
Bell Partners has acquired Lansbrook Village, a 774-unit apartment community located in Palm Harbor, Fla.
In a separate transaction, the company also acquired Presidio East, a 312-unit apartment building in Fort Worth, Texas. Lansbrook Village was acquired on behalf of Bell Value-Add Fund VIII investors and will be renamed Bell Lansbrook Village. Presidio East was acquired on behalf of Bell Core Fund I investors and will be renamed Bell Presidio.
“Bell Lansbrook Village is our first acquisition for Value-Add Fund VIII and offers the ability to immediately create value through renovations and enhanced management practices. Bell Presidio is well-suited for our Core Fund I venture, as it provides a stable performance history in a location with attractive growth prospects,” said Nickolay Bochilo, executive vice president of investments at Bell Partners.
Completed in several phases between 1998 and 2004, Bell Lansbrook Village is a low-density community with dire