Bell Partners Lands $73M Refi for LA Community

The property came online in 2017.

Bell Partners has received $73 million for the refinancing of Bell South Bay, a 264-unit community in Inglewood, Calif., a Los Angeles submarket. KKR-managed accounts provided the bridge loan in a deal arranged by Walker & Dunlop.

Previous property debt includes a 2014-originated $52.5 million PNC Bank note, according to Yardi Matrix data. In 2018, the firm also drew an undisclosed amount from a CMBS line of credit held by Fannie Mae.

Located at 11622 Aviation Blvd., Bell South Bay is adjacent to the Los Angeles International Airport. Downtown Los Angeles is less than 17 miles away.


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Completed in 2017, the five- and six-story building comprises studio, one-, two- and three-bedroom floorplans ranging between 580 and 1,135 square feet, the same data source shows. Select layouts feature private balconies and patios.

Common-area amenities feature a fitness center, a clubhouse with social lounge, coworking spaces, a swimming pool with cabanas and couches, a yoga studio and a parking garage. The property also has a barbecue and grill area, a conference center, EV charging stations and a game room.

Walker & Dunlop’s Justin Nelson and Craig West led the Capital Markets and Multifamily Finance teams that arranged the financing for the borrower.

Bell Partners’ recent multifamily activity

Bell Partners invests in large U.S. markets, with a focus on multifamily assets of at least 100 units and more than $40 million in total investment value. The firm was also on Multi-Housing Newstop property management companies list last year.

In October, Bell Partners acquired The Bell Shrewsbury, a 250-unit community in Shrewsbury, Mass., that was under its management since 2019. The property came online in 2018 and was acquired on behalf of the Bell Value-Add Fund VIII.

A few months earlier, the firm also purchased Gateway Crossing Apartments, an 831-unit asset in Plano, Texas, for the same investment fund. The acquisition involved a $119.5 million Fannie Mae loan.