Greensboro, N.C.-based Bell Partners isn’t straying far from home with the firm’s latest apartment acquisitions. Sure, the 170-unit 1700 Midtown Apartments in Nashville, Tenn., and the 490-unit Ansley at Park Central Apartments in Dallas aren’t exactly a quick drive from the Triangle, but they’re sure representative of the firm’s Southeast- and Southwest-dominated apartment portfolio, which now includes 63,132 units across 220 properties. All in, the two transactions cost Bell a cool $79 million, but to hear Bell Partners president Jon Bell tell the tale, there’s probably more acquisition cash stacks where that came from. "We're excited about the positive fundamentals in the multifamily sector and pleased to have made these purchases on behalf of Bell Fund IV," Bell says. "The recently announced $300 million-plus sale of almost all of our senior living properties was a key step as we focus on our position as one of the country's leading apartment ownership and management companies." And one with decidedly little Northern exposure.
Real estate investors pining for a glimpse behind the portfolio doors at Addison, Texas-based Behringer Harvard no longer need to wait: The firm announced Sept. 8 the availability of an iPhone app that highlights a global portfolio of some 200 properties in nine countries. Designed for both iPhone and iPad, the application allows asset-minded users to browse properties organized by investment program, property type, and geography, including searches based on a user’s location. Each asset listing also includes key facts in a Property Summary tab and includes additional details via a Property Description function. To get the Behringer Harvard Property Gallery app, click here.
The Purchasing Minority
Forget the white picket fence: Americans are looking to change the locks and change the world, according to submissions to a Rent.com story contest asking contestants to describe their New American Dream. "New" because a survey conducted recently by the Santa Monica, Calif.-based apartment ILS to jumpstart the contest found that 87 percent of U.S. adults no longer consider owning a home to be the most essential part of their American Dream. Instead, Americans seem to be more focused on financial stability, the ability to travel and be mobile, and the prospect of “making a difference” in the world, the ILS says of its contestant submissions. “I am a single mother of a 2-year-old,” wrote one contestant. “A few months ago, I lost my job, and as of yet have not found a new one. My new American dream is to keep my one-bedroom apartment.” To view winning submissions to the contest, see Rent.com’s total brand approach to an inspiring marketing campaign, and read random Facebook comments on said campaign (not all of which are positive), head on over to Rent.com’s Take Back the Dream site.
Users of Chicago-based RentSentinel’s ILS syndication feature got a whole lot happier this week with the addition of San Francisco-based HotPads and Pittsburgh-based Rent Jungle to the Rent Sentinel’s list of daily ILS data feeds. For property managers plugged into the RentSentinel ILS feature, pricing, availability, photos, and other content are automatically pushed to ILSs when uploaded, providing an integrated user experience. “We’re excited to announce our partnership with HotPads and Rent Jungle,” said RentSentinel President Eric Broughton in a statement on the new deals. “Data integration is a critical factor in regards to potential residents and successfully leasing properties. We see our product as a great opportunity for both websites to grow their business portfolios. In addition, these new ILSs add tremendous value to our customer’s marketing strategy.”