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Deals & Dealmakers

Bell closes latest fund with $1.7B purse for apartment investment

Bell Partners, a leading apartment investment and management companies, has completed its second and final close of Bell Apartment Fund VI, LLC.

Photo by Jonathan Brown/ Flickr
Photo by Jonathan Brown/ Flickr

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 over $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.

The Fund’s investor base 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.

Jon Bell, CEO of Bell Partners Inc., said: “We are grateful to our investors for their commitment to our most recent value-add fund and are very pleased with the reception that Fund VI received from both domestic and international investors.

“The extremely positive investor response demonstrates a high level of confidence in Bell’s strategy, management team, and vertically integrated operating platform, as well as the recognition of our strong track record.  We are confident that this investment opportunity will generate attractive current income and provide strong total returns for our investors.”

With the recent opening of Bell’s San Francisco office, Bell continues the expansion of its investing capabilities and is positioned to acquire apartment investments within its national footprint.

Fund VI seeks to invest in multifamily properties in targeted major metropolitan areas across the U.S. with healthy fundamentals. 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 its major markets in the U.S.

During 2016, Bell completed nearly $1.3 billion in apartment transactions. Since 2002, it has completed over $12 billion of apartment transactions.

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