Maxx Properties has acquired the Bell at Plantation apartment community for $70 million and rebranded the property as the Ellery. The 250-unit asset is located at 6901 W. Sunrise Blvd. and was sold by a Bell Partners Fund. The transaction reflects a change in ownership while keeping the property positioned as an institutional-quality multifamily community.
Acquisition financing for the purchase was provided by CBRE Multifamily Capital, which originated a $55.1 million mortgage for Maxx Properties. The new loan underscores the availability of senior debt for stabilized multifamily assets, even as capital markets remain selective. Specific loan terms such as rate, maturity, and proceeds use were not disclosed.
According to reporting cited from the South Florida Business Journal, the property last traded for $67.25 million in 2018, when it was newly built. The latest sale therefore represents a modest increase in pricing over the prior transaction, suggesting that investor appetite has remained intact for this asset since delivery. No cap rate or other valuation metrics were provided.
The Ellery sits on a 10.2-acre site and offers a range of community amenities, including a pool, fitness center, clubhouse, and a playground. Citing Apartments.com, unit sizes range from 720 to 1,354 square feet, with monthly rents starting around $1,980 and reaching approximately $2,779 at the upper end. The mix of unit sizes and amenity set is consistent with contemporary garden-style multifamily communities in the region.
Maxx Properties has been an active multifamily investor in the area in recent years. In 2024, the firm acquired another apartment complex in Wilton Manors for $46.6 million, further expanding its South Florida portfolio. The Ellery purchase adds scale to its holdings in the Broward County market, although specific business plans for the asset were not outlined.
Bell Partners continues to be a significant participant in the multifamily investment management space. Since 2006, the company has closed nine funds with total equity commitments of $3.5 billion, raised from institutional and high-net-worth investors. As of March 2026, Bell Partners oversees an investment management portfolio with approximately $10 billion in gross asset value. The disposition of the Bell at Plantation aligns with that broader fund management strategy, recycling capital from stabilized holdings into new opportunities.
