Bell Partners has recently acquired two rental properties, Cherrywood Village and Luna Bella, located in Parker and Lafayette, Colorado. These acquisitions were made on behalf of the company’s Bell Value-Add Fund VIII for a total cost of $185 million. As part of the acquisition process, both communities have been renamed as Bell Parker and Bell Lafayette.
Bell Parker is a garden-style community with 360 units situated at 16950 Carlson Dr. in the Denver submarket of Parker, Colorado. The property was built in 2002 and was purchased by Bell Partners from Starwood / SREIT for $103.3 million in January with JLL acting as the broker.
Similarly, Bell Lafayette is also a garden-style community but with 240 units located at 695 S.Lafayette Dr., also within the Denver submarket but this time in Lafayette, Colorado. The property was completed more recently in 2016 and was acquired by Buchanan Street Partners for $82.5 million through Walker & Dunlop acting as broker.
With these two new additions to their portfolio along with another recent acquisition (not mentioned), Bell Partners now owns or manages a total of eighteen communities consisting of over six thousand apartment homes across various locations throughout Colorado.
