Bell Partners has closed its fourth value-added investment fund. According to a statement by the Greensboro, North Carolina-based multifamily investment and management firm, Bell Apartment Fund IV has closed on $200 million in equity commitments from institutional investors and high-net-worth individuals. Many of Fund IV’s investors had invested in Bell’s previous funds.
Through Fund IV, Bell Partners will invest in high-quality, well-located multifamily properties along the East Coast and across the Southwest. Fund IV is comprised of two entities: a high-net-worth vehicle and an institutional fund.
Bell Partners plans to enhance value in the properties it acquires through renovation, enhanced operations or transitioning locations in order to produce superior returns with relatively low risk. The firm intends to create a geographically diverse portfolio of high-quality apartment communities in supply-constrained submarkets near major infrastructure and employment centers.
Bell Partners has invested approximately $800 million in equity for its clients and, since 2002, has completed nearly $6.6 billion of apartment transactions on behalf of its investors and partners. Fund III, which collected contributions only from high-net-worth individuals, raised $50 million in 2009.
The firm currently oversees a $4.3 billion investment management portfolio comprised of 163 apartment communities totaling more than 48,000 units, excluding third-party management. All told, Bell Partners currently owns or operates 248 multifamily properties, with more than 69,000 units, the majority of which are located either along the East Coast or in the Southwest.