Bell Partners expands D.C. metro footprint
Bell Partners has acquired Siesta Key, an apartment community located in Rockville, Md., which will be renamed Bell Shady Grove. This acquisition represents the fourth community owned by Bell Partners in the state of Maryland and the 18th managed in the Washington, D.C., metro area.
Bell Shady Grove was acquired on behalf of a venture between Bell Partners and HANSAINVEST Real Assets GmbH, a leading investment firm based in Hamburg, Germany.
Built in 2018, Bell Shady Grove is a 315-unit mid-rise community that offers residents convenient access to downtown Rockville; Bethesda, Md.; and Washington, D.C., via multiple modes of transportation. The community is situated adjacent to Interstate 270 and Interstate 370/Maryland Route 200 and is a short distance from the city’s Red Line metro station. Bell Shady Grove is also located in the I-270 biotechnology and life sciences corridor — one of the country’s most prominent hubs for medical research, testing and deve