Bell Partners Announces Sale of Company’s Remaining Two Senior Housing Communities
-BOTH COMMUNITIES LOCATED IN NORTH CAROLINA
-COMPANY CONTINUES TO REFOCUS BUSINESS ON MULTIFAMILY SECTOR
Greensboro, NC —Bell Partners Inc., a top ten apartment investment and management company, announced today that, on behalf of its investors, it has sold two North Carolina senior housing apartment communities to Capital Senior Housing. The communities, Alta Oakridge in North Raleigh and Alta Walk in Durham, were the last remaining independent living communities in which Bell Partners had an ownership interest. Alta Oakridge and Alta Walk are luxury independent living apartments. They offer one, two and three bedroom apartments. Community amenities include fitness and business centers, library, controlled access, and a variety of available on-site services, such as concierge, salon and activities arranged by management. Nickolay Bochilo, Vice President of Investment at Bell Partners said, “On behalf of the Company and our investors, we are pleased with the sale of these two communities to Capital Senior Housing. These transactions complete our planned exit from the senior housing sector. We can now focus our growth exclusively on the multifamily residential market, which is part of our broader corporate strategy.”
About Bell Partners Inc.
Established in 1976, Bell Partners Inc. (“Bell Partners” or the “Company”) is a privately held, vertically integrated apartment investment and management company focused on high-quality multifamily communities throughout the United States. Bell Partners has over 60,000 units under management and over 20,000 apartments under renovation. The Company has over 1,600 associates and 6 offices (including its headquarters in Greensboro, NC) and offers an extensive and full service operating platform containing expertise in acquisitions and dispositions, financing, property operations, construction, accounting, risk management, market research and all other related support functions. Bell Partners is led by a senior management team with an average of over 20 years of experience that has invested throughout all phases of the real estate cycle and has helped the Company complete over $10 billion of apartment transactions since 2002, including almost $1.5 billion of activity in 2015 alone. For more information, visit our website at www.bellpartnersinc.com.