JV Acquires 180-Unit Atlanta Community
- Dec 29, 2016
Sandy Springs, Ga.—Bell Partners Inc. and Hansainvest, one of the largest German investment management companies, have acquired Indigo House, a 180-unit community in metro Atlanta. The transaction is the first asset acquired by the partnership between Bell and Hansainvest’s new HANSA US Residential Fund.
Indigo House has been renamed Bell Glenridge and will be managed by Greensboro, N.C.-based Bell Partners, which specializes in multifamily. The property, completed in 2015, is in Sandy Springs, one of Atlanta’s suburban submarkets, in the northern part of the metro.
The property’s one- and two-bedroom units average 889 square feet, all with plank flooring, full-size washers/dryers and walk-in closets. The gated community also offers a six-story structured parking deck with 321 resident parking spaces.
Common amenities include a clubroom with catering kitchen, fireplace, pool table and poker table, as well as a fitness facility with Spin/Yoga Room, onsite fitness trainer, and 24-hour digital training via Fitness on Demand. Other amenities include a resort-style, heated salt-water pool with outdoor fire-pit and poolside grilling station.
For Bell, the acquisition is its 12th multifamily deal in 2016. This year, Bell has completed $1.3 billion in total apartment transactions.
Hansainvest Real Assets GmbH specializes in investments in the real estate and infrastructure sector, and currently manages assets of about 4.3 billion euros ($4.47 billion). In the real estate segment, it manages office, retail, hotel, logistics and residential properties in 18 countries. HANSA US Residential, an open-ended fund focusing on U.S. residential properties, is its latest venture.