Bell Partners Acquires and Merges Two Frisco, Texas Multifamily Communities
GREENSBORO, N.C. – Bell Partners Inc., one of the nation’s leading apartment investment and management companies, today announced the acquisition of two properties in Frisco, Texas: The Emerson (410 units) and Emerson Court (312 units), on behalf of its Fund VII investors. These adjacent mid-rise multifamily communities will be combined into a single community and renamed Bell Frisco Market. Bell Frisco Market is Bell Partners’ 6th owned community in the Dallas-Fort Worth area.
Bell Frisco Market features high-quality construction and modern amenities. The Emerson was built in 2015, and Emerson Court was built in 2018. The community is located in the heart of the Frisco North Platinum Corridor and is within close proximity to a number of lifestyle, retail, athletic and entertainment centers. The property also offers easy access to North Texas’ largest employment hubs, with an additional 4 million square feet of office and medical space expected to come online in the submarket in the next 3-4 years.
“As one of the fastest growing cities in the nation, Frisco’s employment prospects make it an attractive market for Bell Partners,” said John Blaylock, Senior Vice President of Investments at Bell Partners. “Frisco epitomizes the overall growth of the Dallas metro, which is projected to double in population over the next few decades and add millions of jobs in the process. This acquisition adds to our existing portfolio in Frisco and is consistent with our investment strategy to acquire high quality communities with potential to increase operating income and property value by utilizing our vertically integrated platform and scale.”
The property is comprised of two four-story buildings with brick exterior. Bell Frisco Market’s units include subway kitchen tile backsplash, granite countertops, stainless steel appliances and vinyl plank flooring in living rooms and bathrooms. Select units feature outdoor terraces or private patios. Each phase offers a resort-style pool with grilling stations and cabanas, indoor and outdoor gaming lounges, and a state-of-the-art fitness center. Bell plans to consolidate management and leasing operations into one phase and adapt common areas in the other phase into modern co-working spaces to serve as an attractive amenity for the residents.
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 60,000 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.
Prosek Partners for Bell Partners Inc.