Jun
16

Bell Partners Sells Three NC Apartments Communities

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sold stamp blueGreensboro, N.C.–based Bell Partners sold eight properties in a $140 million transaction, the company recently announced. The properties include 1,679 units and were sold to Hudson Capital Acquisitions, Somerset Partners, and Summit Multifamily Group.

Bell will continue to manage the three properties purchased by Hudson Capital Acquisitions, which are located in North Carolina. The four communities sold to New York–based Somerset Partners, which are in Little Rock, Ark., will be managed by Somerset Apartment Management. The last property in the transaction, Watergate, also in Little Rock and purchased by St. Louis–based Summit Multifamily Group, will be managed by Trinity Multifamily.

This transaction will continue to fuel Bell’s acquisition activity. So far, the company has purchased three new communities in Austin, Texas; Raleigh, N.C.; and Denver, for a total of $356 million. The push for acquisitions in larger markets is part of the company’s strategy to focus its investment portfolio in specific markets, Jon Bell, president of Bell Partners, said in a news release.

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Categories : North Carolina News

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