Bell Partners Adds $38.6M Apartment Community to Its Portfolio
- Aug 17, 2012
Bell Partners Inc. has purchased Villas of St. Johns Apartments for a reported amount of $38.6 million. The company, which acquired the property on behalf of its investors, will be renaming the property Bell Riverside.
Bell Riverside is a 257-unit Class A luxury community, located on approximately 4.5 acres and containing one-, two- and three-bedroom apartment homes. The property offers resort-like amenities, including a riverfront pool, private boat dock, sun deck and spa, state-of-the-art fitness center, business center, library, controlled-access gates and an attached parking deck. It is situated on the northern bank of the St. Johns River in one of Jacksonville’s best neighborhoods and within close proximity to Downtown Jacksonville and local shopping and restaurant venues.
Jon Bell, president of Bell Partners, said, “The acquisition of the Bell Riverside property aligns with our strategy to acquire high-quality, well-located apartment properties throughout selected markets in the U.S. The unique location and high-end nature of this property makes it an excellent addition to our Florida portfolio.”
Bell Partners Inc. is one of the country’s leading apartment investment and management companies. The company invests capital on behalf of accredited high net worth and institutional investors. To date in 2012, Bell has acquired more than $300 million in apartment properties, including Bell Riverside. Founded more than 35 years ago and now employing approximately 1,700 associates, Bell Partners oversees a portfolio valued at almost $5 billion across 16 states, mostly in the Mid-Atlantic, Southeast and Southwest. The company now owns or operates 244 apartment properties, located generally in the Mid-Atlantic, Southeast and Southwest.
Image via www.thevillasatstjohns.com