GREENSBORO, N.C. — Bell Partners Inc., one of the nation’s leading apartment investment and management companies, and HANSAINVEST, a major German investment management company, announced today that their joint real estate partnership has acquired Escape at Ken-Caryl, a 250-unit community near Denver, Colorado. The transaction is the second asset acquired pursuant to the previously announced partnership agreement between Bell and HANSAINVEST’s HANSA US Residential Fund. The Fund is focused on providing institutional investors with opportunities to invest in core residential properties in the U.S.
Escape at Ken-Caryl has been renamed Bell Ken-Caryl and will be managed by Bell Partners. The community, completed in 2015, is located in Littleton, Colorado. The area is one of Denver’s most desirable residential submarkets with an affluent demographic and excellent growth prospects. The community is located within close proximity to multiple major employment centers, notable retail concentrations and Denver’s most important recreational amenity, the Rocky Mountains.
The 15 building community offers one, two and three bedroom floor plans. The apartment homes, which average 970 square feet, include high-end finishes, such as granite countertops, tile backsplashes, sizeable walk-in closets, wood-style flooring, pendant lighting and built-in computer desks, as well as GE Energy Star appliances and full-size washer and dryer sets in select units.
Common area amenities include a beautifully appointed clubhouse with a resident lounge, billiards room, and catering kitchen. Open air amenities include a spacious resort-style pool with tanning ledge, an outdoor fireplace, grills, and a shuffleboard court. There is also a business center and a bike workshop. Residents of the property have access to the coveted Ken Caryl Ranch, which consists of 3,800 acres of open spaces and over 25 miles of trails, and the Ranch House, which includes tennis courts, an outdoor 25-meter swimming pool, soccer fields, a disc golf course, a sand volleyball court, and the Equestrian Center.
Joseph Cannon, Senior Vice President, Investments, said: “We are very pleased to make our second strategic investment with HANSAINVEST Real Assets. This asset, Bell Ken-Caryl, is well situated in a very desirable, high barrier-to-entry submarket with excellent demographics and strong market fundamentals which will promote long term stability and growth going forward.”
With the purchase of Bell Ken-Caryl, Bell Partners will have completed $560 million in multifamily acquisitions in 2017. In 2015, Bell completed $1.47 billion in total apartment transactions. In 2016, Bell completed nearly $1.3 billion in total apartment transactions.
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About Bell Partners Inc.
About HANSAINVEST Real Assets
HANSAINVEST Real Assets GmbH stands for many years of experience and sustainable investments in the real estate and infrastructure sector. A total of around 80 employees are responsible for assets of some EUR 4.4 billion.
Internationally-oriented real estate experts manage office, retail, hotel, logistics and residential properties in 19 different countries in the real estate segment. In addition to portfolio management, the company also covers acquisitions and disposals, asset management and project development. The latest product, HANSA US Residential, is an open-ended special AIF that focuses on US residential real estate.
The company manages an international portfolio of infrastructure investments with a volume of some EUR 700 million, and provides other services including the acquisition of assets and ongoing portfolio management. (Figures updated on: 31 august 2017)
For more information, visit: www.hansainvest-real.de.
B. Kevin Thompson