Bell Partners Buys Suburban Atlanta Apartments
- Oct 31, 2014
Woodstock, Ga.—Bell Partners Inc., an apartment investment and management specialist, has acquired Alta Woods on behalf of its investors. The 498-unit property is in the Atlanta suburb of Woodstock, a town of about 24,000 in Cherokee County.
Going forward, the property will be renamed Bell Woodstock and be managed by Bell Partners. Completed in two phases in 2000 and 2002, the community is currently over 96 percent occupied.
Bell Woodstock includes a mix of one-, two- and three-bedroom units with island kitchens, walk-in pantries, built-in computer nooks and shelving, and layouts averaging 1,100 square feet. The property is on a low density, 50-acre site.
Common amenities include two clubhouses, Wi-Fi Internet access, a leash-free dog park, and a number of grill and picnic areas throughout the acreage. The property also has a strong emphasis on sports-related amenities. It features two outdoor pools, a sand volleyball court, a nine-hole putting green, a lighted tennis court and two fitness centers.
Joseph Cannon, senior vice president of investments at Bell Partners, notes that the company sees the property as a value-add opportunity, and plans to make upgrades to keep it competitive. To date in 2014, Bell has completed more than $2.2 billion in apartment transactions, including the purchase of Bell Wood.