Bell Partners Acquires 220-Unit Multifamily Community in Arlington, Va.
GREENSBORO, N.C., Dec. 20, 2019 /PRNewswire/ -- Bell Partners Inc., one of the nation’s leading apartment investment and management companies, today announced that it has expanded its presence in the Washington, D.C., metro area by acquiring Vista on Courthouse, a 220-unit multifamily residence located in Arlington, Va. The property will be renamed Bell at Courthouse and will be managed by Bell Partners. The acquisition is Bell Partners’ second acquisition in Arlington this year, following the purchase of Bell Arlington Ridge in June.
Built in 2008, Bell at Courthouse is located in the heart of Arlington’s fast-growing Rosslyn-Ballston Corridor and offers short commutes to dozens of major employers in the Corridor as well as Amazon’s HQ2 at National Landing. The neighborhood rates highly in measures of walkability and transit access given its location adjacent to route 50 and the Courthouse Metro station which is three blocks away.
“We are focused on acquiring rental housing communities in high quality locations where we can leverage Bell’s platform to enhance value. The Bell at Courthouse investment fits well within our investment strategy and is a complementary asset to our Washington metro portfolio,” said John Blaylock, Senior Vice President of Investments at Bell Partners. “The Rosslyn-Ballston Corridor is an attractive place to live and work and has projected strong employment growth. We also plan to renovate the amenity spaces and unit interiors to enhance the resident living experience.”
Bell at Courthouse’s amenities include a swimming pool, club room, fitness center and BBQ grilling area. Apartment interiors include washers and dryers, granite countertops, stainless steel furniture, and private balconies. Townhomes have floor-to-ceiling windows and expansive views of the Washington, D.C. monuments.
Including Bell at Courthouse, Bell Partners currently operates 23 apartment communities in the greater Washington, D.C. metro area.
About Bell Partners Inc.
Established in 1976, Bell Partners Inc. (“Bell Partners” or the “Company”) is a privately held, vertically integrated apartment investment and management company focused on high-quality multifamily communities throughout the United States. With approximately 55,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has over 1,400 associates and eight offices (including its headquarters in Greensboro, N.C.) and offers an extensive and full-service platform containing expertise in acquisitions and dispositions, construction, financing, property operations, accounting, risk management and all other related support functions. Bell Partners is led by a senior management team with an average of over 20 years of experience that has invested throughout all phases of the real estate cycle and has helped the Company complete over $15 billion of apartment transactions since 2002, including approximately $1 billion in 2019 transactions. For more information, visit our website at www.bellpartnersinc.com.
SOURCE Bell Partners Inc.