Apartment investment and management firm Bell Partners has closed its Value-Add Fund VIII at a hard cap of $1.3 billion in equity commitments. The fund includes a range of domestic and international investors, many of whom have been existing partners in previous funds.
“We are grateful for the support of our investors and are committed to consistently delivering strong performance throughout a full market cycle by leveraging our national platform and deeply experienced team,” said CEO and president Lili Dunn. “We are focused on carefully identifying attractive investment opportunities that create value for our investors.”
According to Bell Partners, the fund’s value-add investment strategy will focus on the acquisition of well-located, quality market-rate communities in 14 target markets: Atlanta; Boston; Denver; Florida’s Fort Lauderdale, Orlando, and Tampa; Los Angeles; North Carolina’s Charlotte and Raleigh; San Francisco; Seattle; Texas’ Austin and Dallas; and Washington, D.C. With leverage, the fund has an investment capacity of approximately $3.2 billion. Value-add strategies will include renovations, enhanced operations, and investment in transitioning neighborhoods.
“Apartment fundamentals remain solid, and we are confident that multifamily housing is well positioned to withstand changing market conditions,” said Joe Cannon, executive vice president of portfolio management. “As we evaluate opportunities to invest Fund VIII, we will continue to leverage the insights and capabilities of Bell’s vertically integrated operating platform to identify attractive investment opportunities and maintain our record of creating value for our investors.”
Hodes Weill Securities was the exclusive global placement agent to Bell Partners for Fund VIII. Previously, the firm closed on the $930 Bell Core Venture in 2022, which complements its value-add investment strategy. Since the creation of its fund platform in 2006, the firm has closed nine funds and other separate accounts with over $6 billion in equity commitments.
