Bell Partners Announces Purchase of Luxury Jacksonville Apartment Community
Greensboro, NC — Bell Partners Inc., one of the nation’s leading apartment investment and management companies, announced today that it has purchased Villas of St. Johns Apartments in Jacksonville, Florida for $38.6 million on behalf of its investors. The community will be renamed to Bell Riverside to reflect the Company’s branding strategy. Bell Riverside is a 257-unit Class A luxury community, located on approximately 4.5 acres and containing one, two and three bedroom apartment homes. The property offers resort-like amenities, including a river front pool, private boat dock, sun deck and spa, state-of-the-art fitness center, business center, library, controlled-access gates and an attached parking deck. It is situated on the northern bank of the St. Johns River in one of Jacksonville’s best neighborhoods and within close proximity to Downtown Jacksonville and local shopping and restaurant venues. Jon Bell, President of Bell Partners, said, “The acquisition of the Bell Riverside property aligns with our strategy to acquire high quality, well-located apartment properties throughout selected markets in the US. The unique location and high-end nature of this property makes it an excellent addition to our Florida portfolio.” To date in 2012, Bell has acquired more than $300 million in apartment properties, including the purchase of Bell Riverside announced today.
About Bell Partners Inc.
Bell Partners Inc. is one of the country’s leading apartment investment and management companies. The company invests capital on behalf of accredited high net worth and institutional investors. Through its Bell Apartment Living division, the company is the 10th largest apartment operator in the United States, according to the National Multi-Housing Council. Founded more than 35 years ago and now employing approximately 1,700 associates, Bell Partners oversees a portfolio valued at over $4.4 billion across 15 states, mostly in the Mid-Atlantic, Southeast and Southwest. Bell Partners now owns or operates 246 apartment properties, located generally in the Mid-Atlantic, Southeast and Southwest. Bell’s portfolio includes more than 69,000 apartments.