Bell Partners Discloses Shareholder Transition to Strengthen Ownership Structure
GREENSBORO, N.C. – Bell Partners, one of the nation’s leading apartment investment and management companies (“the Company”), today announced a change in its shareholder structure, effective immediately.
Bell Partners Founder and Chairman Steve Bell, who has personally held a majority stake in the Company since its founding in 1976, has transitioned a minority portion of his shares to select executive officers of the Company, including Lili Dunn (President), Nickolay Bochilo (EVP Investments) and Joe Cannon (EVP Investment Management). Additionally, Steve has transitioned a small portion of shares to Jon Bell (CEO) and E. Durant Bell (EVP of HNW Relations and Business Development), who were both minority shareholders before the transition and have been at the company 18 and 13 years, respectively. The Bell family will remain the combined majority owners of the Company.
“Since founding Bell Partners over four decades ago, we have remained committed to our core values, including ‘prepare for the future today’,” said Steve Bell. “We have had a thriving business with strong performance through varying economic cycles, and this change is part of a deliberate and thoughtful succession plan. I remain involved with the Company and believe we have the foundation and broad team of partners and leaders to continue our success well into the future.”
CEO Jon Bell added, “I’m thrilled to recognize these leaders for their work and dedication. It’s been a privilege to work with Lili, Nickolay, Joe and the whole executive team. Our family is fortunate to count them as both colleagues and friends. While Bell Partners has been a family-owned enterprise and we plan to continue our roles at the Company, this ownership transition is an important step in the natural evolution of our firm.”
President Lili Dunn remarked, “I’m grateful and honored to become a shareholder of Bell Partners. The Company has a strong track record of success, a special culture, and a seasoned team. I look forward to continuing to serve our residents, associates and partners.”
As part of this shareholder transition, the composition of the Company’s executive and investment committees will remain unchanged, as will the general partner (GP) structure on each of the Company’s prior funds.
About Bell Partners
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 over 1,400 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 approximately $1 billion in 2019 transactions. For more information, visit our website at www.bellpartnersinc.com.