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Bell Partners closes $600m Apartment Fund VI

by Andrea Waitrovich

Bell Partners has completed the second and final close of Bell Apartment Fund VI.

The fund was materially oversubscribed and closed at its fund size limit with $600 million of total equity commitments. With debt leverage, the fund has the capacity to acquire more than $1.7 billion in apartment investments.

Bell Apartment Fund VI is a fully discretionary, value-add fund that invests in high-quality, well-located multifamily properties across the United States and leverages Bell’s extensive operating platform to enhance cash flow through value-add activities.

Fund VI seeks to invest in multifamily properties in targeted major metropolitan areas with healthy fundamentals across the United States.  Through renovation, enhanced operations and investing in transitioning locations, Fund VI seeks to add value and produce superior risk-adjusted returns. In addition to Bell’s series of value-add apartment funds, Bell also invests in stabilized core apartments through a $1 billion separate account with a German real estate special fund managed by HansaInvest. The venture is focused on acquiring stabilized core multifamily properties located across major markets in the United States.

The investor base for Fund VI is comprised of institutional investors from across the globe and accredited high-net-worth individuals.

CBRE Capital Advisors acted as placement agent for select U.S. investor capital commitments.

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