Mesirow Financial has recently acquired the Bell Meadowmont apartments in Chapel Hill for a whopping $83.6 million. The financial services firm made this purchase from Bell Partners of Greensboro, who had previously bought the complex for $51 million in 2017. This resulted in a significant return of $32.5 million within just six years.
The property, now known as The Reserve at Meadowmont, boasts 258 units spread across 20 buildings with rents ranging from $1,805 to $2,873 per unit. Some units even feature desirable amenities such as patios or balconies and fireplaces.
Residents can enjoy various community amenities including a swimming pool with sundeck, grilling stations, community garden and dog park for their furry friends’ enjoyment. Additionally there is also a fitness studio equipped with spin bikes and other exercise equipment along with an on-site java bar and lounge area perfect for socializing or getting some work done at the business center.
Leading the transaction was Sean Wood of Newmark’s team who facilitated this successful deal that allowed Bell Partners to profit off their Chapel Hill property not once but twice – first selling it in 2013 for $49 million before Mesirow Financial took over ownership.
