Bell Partners Continues Growth in D.C. Metro Area With Multifamily Community Acquisition in Arlington, VA.
GREENSBORO, N.C. – June 11, 2019 – Bell Partners Inc., one of the nation’s leading apartment investment and management companies, today announced that it has acquired Twenty400, a 217-unit apartment community in Arlington, Va., on behalf of its Fund VI investors. The property will be managed by Bell Partners and be renamed Bell Arlington Ridge.
Situated at a nexus of commuting corridors in the D.C. metro area, Bell Arlington Ridge is located within the Beltway directly adjacent to I-395, and is close to both the Pentagon City Metro Station and two Arlington Rapid Transit bus lines. Bell Arlington Ridge provides prime access to some of the largest and fastest-growing job hubs in the area with top employers in both the private and public sectors. The property is five minutes from the new Amazon headquarters in National Landing and the Pentagon, and is also close to major D.C. metro area employment hubs such as Mark Center and the Rosslyn-Ballston Corridor.
“Arlington is fast becoming one of the most desirable places to live and work not just in the D.C. metro area, but in the country,” said Nickolay Bochilo, Executive Vice President of Investments, Bell Partners. “We have built a strong portfolio of communities in the D.C. metro area, and we are thrilled about this latest acquisition that builds on our position in such an important market. Our plan is to make various physical and operational enhancements to the community, which should result in a high-quality living experience for the current and future residents.”
Built in 2010, Bell Arlington Ridge’s current amenities include a two-level fitness center, resort-style pool, parking garage, coffee bar, dog run, and onsite bike storage. Each unit includes spacious nine-foot ceilings, washers and dryers, granite countertops, and energy-efficient stainless-steel appliances. Select units also include wood-plank flooring, skylights, sunrooms, and private patios and balconies.
Including Bell Arlington Ridge, Bell Partners currently owns three properties in Virginia and seven properties in the D.C., Maryland, and Virginia area. Overall, Bell Partners owns or operates 20 apartment communities in the D.C. metro area.
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. With approximately 50,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has nearly 1,300 associates and eight offices (including its headquarters in Greensboro, N.C.) and offers an extensive and full-service platform containing expertise in acquisitions and dispositions, construction, financing, property operations, accounting, risk management 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 $15 billion of apartment transactions since 2002, including nearly $2 billion in 2018 transactions. For more information, visit our website at www.bellpartnersinc.com.
Bell Partners Inc.
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