Multifamily investment and management firm Bell Partners has acquired Element Uptown in Charlotte, N.C. and Waypoint West in suburban Mooresville, N.C. Both apartment communities were acquired on behalf of Bell Apartment Fund VII investors. The firm did not disclose the seller or sale price of the properties.
The acquisitions come just a few months after Bell Partners closed a $930 million multifamily fund targeting apartment communities in 14 major U.S. markets.
Element Uptown is a 352-unit high-rise community that will be rebranded as Bell Uptown Charlotte. The six-year-old community has a mix of studio, one- and two-bedroom floorplans. Apartment interiors feature ceiling fans in living rooms and bedrooms, roller shade window coverings, semi-frameless glass showers, vanities with framed mirrors and in select apartments, built-in computer desks. A saltwater pool with cabanas and bar is among the resident amenities of the property.
READ ALSO: Top 10 Multifamily Markets by Sale Volume
Situated in Charlotte’s central business district, Element is located within walking distance of Bank of America Stadium and other facilities housing Charlotte’s pro sports teams. Four other Uptown or South End submarket properties are currently managed by Bell Partners.
Waypoint West is a 192-unit, garden-style apartment community that will be renamed Bell Moorseville West. Completed last year, the property features one-, two- and three-bedroom floorplans. Apartments feature crown molding in living and dining areas, Energy Star lighting, smart tech locks and thermostats and nine-foot ceilings. Common-area amenities include a fitness center and yoga room.
The residential community is in the Lake Norman submarket, 30 miles north of Charlotte’s Uptown city center, while Lake Norman itself is less than a mile away. The community is also close to a pair of other Bell Partners luxury communities.