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Bell Company Completes Tennessee Sales

For a combined sales income of more than $27 million, Steven D. Bell & Company, headquartered in Greensboro, has sold two apartment properties in Tennessee on behalf of private investor groups.

According to Bell sales executive David Bell, negotiations and sales have been completed for Waterford Place in Murfreesboro, Tenn., as well as for Carrington Park, also in Murfreesboro. The Waterford sale price was $13,250,000 and Carrington Park sold for $14,375,000.

Bell commented, “Both properties are in excellent condition and offer a full range of amenities. They are among the most attractive apartment communities in that region.”

Bell, who oversees disposition activity at his company, commented, “Of course, we are as attentive to good selling opportunities as we are to buying outstanding property.”

Bell also noted, “The current access to more capital in the real estate marketplace has created an attractive selling environment and, in the interest of our investors, we were able to take advantage of that in the case of the Murfreesboro properties.”

The Bell firm, founded in 1976, now has more than 850 employees working in Bell investment property locations across the Southeast and Texas.

Steven D. Bell & Company manages a property portfolio valued at more than $2 billion. The portfolio is made up of approximately 19,250 apartment units under management, 16 senior living facilities and about 4 million square feet of retail space in 25 shopping centers and three office buildings.