Bell Cherry Hill in Englewood, CO. Bell Partners Inc. finished its second and final close of Bell House Fund VI with $600 million of overall equity commitments.
The fund was materially oversubscribed and closed at its fund size limit. With debt leverage, the fund has the capability to get over $1.7 billion in home investments.
Bell Apartment Fund VI is a completely discretionary fund with a national footprint that seeks to include worth through remodelling, enhanced operations and investing in transitioning areas.
The fund’s financier base is consisted of institutional investors from around the world and certified high-net-worth people.
Among those investors is the Pennsylvania Public School Employees’ Retirement System. According to PSERS, Bell’s investment strategy is to develop a portfolio of value-add multifamily residential or commercial properties targeting a net IRR of 11-13% using 65% take advantage of. These homes tend to contain from 150 to 450 private units.
Bell’s investments span 13 states and Fund VI will target the following markets: Boston, DC, Raleigh/Durham, Nashville, Atlanta, Charlotte, Orlando/Tampa, Ft. Lauderdale/Miami, Dallas, Austin, Denver, Northern and Southern California. The California market is an extra market for Fund VI, and will be restricted to a maximum of 20%.
CBRE Capital Advisors acted as placement agent for select U.S. financier capital commitments.
In addition to its series of value-add apartment funds, Greensboro-based Bell likewise purchases stabilized, core houses through a $1 billion different account with a German real estate unique fund managed by HansaInvest. The venture is concentrated on obtaining supported core multifamily homes located throughout its major markets in the United States
During 2016, Bell finished almost $1.3 billion in overall apartment deals.
Bell’s latest purchase was this past April when it got Alta Cherry Hills, a 306-unit community in Englewood, CO<