Bell Partners Acquires Hanover Warner Center in Los Angeles
Multifamily community in San Fernando Valley area adds to growing West Coast portfolio
GREENSBORO, N.C. – September 17, 2021 – Bell Partners Inc., one of the nation’s leading apartment investment and management companies, has acquired Hanover Warner Center, a 395-unit apartment community in Los Angeles, California. The community, purchased on behalf of the firm’s Bell Core Fund I investors, will be renamed Bell Warner Center.
Located in the San Fernando Valley, Bell Warner Center is located minutes from Route 101, connecting residents to major job centers in Woodland Park, life science industry in Thousand Oaks, and the content creation industry in Burbank. Nearby Warner Center, which houses 10 million square feet of office space, is home to companies such as Intuit, Blackline, and AMC Networks. Additional major employers near the community include Warner Bros., Netflix, and Morgan Stanley.
In addition to abundant employment opportunities, Bell Warner Center is situated in the heart of Warner Center’s downtown, home to numerous retail outlets, restaurants, and entertainment venues. The campuses of UCLA, USC, Pepperdine, and other Los Angeles universities provide residents with world-class educational opportunities and storied cultural institutions.
“We are thrilled to continue our expansion on the West Coast with the acquisition of Bell Warner Center,” said Nickolay Bochilo, EVP of Investments at Bell Partners. “The acquisition of this community reflects our focus on finding high-quality properties in areas with attractive long-term economic fundamentals. The choice of a desirable suburban location in the Los Angeles metro reflects our view that suburbs will continue to benefit from demographic and migration shifts that have been accelerated during the COVID pandemic.”
Built in 2020, Bell Warner Center features a range of amenities for residents such as executive conference and meeting rooms, a 24-hour fitness center, and a controlled-access parking garage. The community also features an atrium with an outdoor café and fire pit.
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 70,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has over 1,600 associates and ten 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 $16 billion of apartment transactions since 2002, including over $1.2 billion in 2020 transactions. The Company has completed $1.5 billion in transactions in 2021. For more information, visit our website at www.bellpartnersinc.com.
Prosek Partners for Bell Partners Inc.