Real estate investor and property manager Bell Partners raised $1.3B for its last value-add fund. According to the fund manager, Value-Add Fund VIII exceeded its $1B target. Bell Partners plans to deploy the fund to acquire properties in 14 target metro areas, including Atlanta, Austin, Boston, Dallas, Los Angeles, San Francisco, and Seattle. - The value-add fund's strategy involves renovations, enhanced operations, and investment in transitioning neighborhoods.
- Joe Cannon, EVP of portfolio management at Bell Partners, said apartment fundamentals remain solid and multifamily housing is well positioned to withstand changing market conditions.
- North Carolina-based Bell manages around 85,000 apartment units across the U.S. and generated net annual returns of 17.7% on realized apartment investments through June 2022.
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