Bell Partners has held a final close of its Value-Add Fund VIII (Fund VIII) at a hard cap of $1.3 billion in equity commitments from a range of domestic and international investors, many of whom were existing partners in previous funds.
Fund VIII will deploy a value-add investment strategy, acquiring well-located, quality market-rate apartments in 14 target markets across the United States: Boston; Washington, D.C.; Raleigh, N.C.; Charlotte, N.C.; Atlanta; Fort Lauderdale, Fla.; Orlando; Tampa, Fla.; Austin; Dallas; Denver; Los Angeles; San Francisco; and Seattle. With leverage, the Fund has investment capacity of approximately $3.2 billion. The fund's value creation strategies include renovations, enhanced operations and investment in transitioning neighborhoods.
“We are grateful for the support of our investors and are committed to consistently delivering strong performance throughout a full market cycle by leveraging our national platform and deeply experienced te