Bell Value-Add Fund VIII raises $190m toward $850m fundraising goal

Bell Value-Add Fund VIII, a closed-end commingled apartment fund managed by Bell Partners, has secured $190 million of commitments against a $850 million target, according to a recent SEC filing.

In November alone, the investment vehicle secured $120 million of its investments from the New Mexico State Investment Council and the Jacksonville (Fla.) Police & Fire Pension Fund, which contributed $100 million and $20 million each, respectively.

Bell Partners VAF VIII focuses on the acquisition of higher-grade, mid-to-large-sized apartment communities in growth neighborhoods within major markets, where value can be added through renovations and operational improvements. The fund will target neighborhoods with attractive supply-demand fundamentals in 14 markets with population and employment growth well in excess of the national average.

Bell Partners is a