Bell Partners targets $800m for seventh multifamily investment vehicle

Bell Partners is seeking $800 million in capital commitments for its Bell Apartment Fund VII, which will target value-add apartment assets across the United States.

The fund’s investment team will look to invest in multifamily properties constructed within the past few years, as well as slightly older assets requiring renovation, according to Commercial Real Estate Direct. The fund seeks to invest in 25 to 35 properties at between $30 million and $125 million each.

The Pennsylvania Public School Employees’ Retirement System is among the fund’s investors, with $100 million in committed capital.

Bell Partners raised $600 million for the fund’s predecessor, Bell Apartment Fund VI, in June 2017. The fully discretionary, value-add fund invested in high-quality, well-located multifamily properties across the United States. With leverage, that fund had the capacity to ac