Bell Partners Inc., one of the nation’s leading apartment investment and management companies, announced today that, on behalf of its Fund VI investors, it has acquired Broadstone Plantation, a premier 250-unit community located in Plantation, Florida. The community has been renamed Bell at Plantation and will be managed by Bell Partners.
Bell at Plantation is comprised of a mix of five-story midrise buildings and three-story garden buildings with a combined average unit size of 989 square feet. The community is centrally located in Plantation and provides convenient access to a variety of high profile employers, desirable retail amenities, and major transportation arterials. Residents also benefit from being a short distance from the South Florida Education Corridor, a consortium of five colleges with a combined total of 65,000 students.
Joseph Cannon, Executive Vice President, Investments, said: “We are very pleased to add Bell at Plantation to our Florida portfolio. This acquisition represents the continuation of our strategy to invest in high-quality communities that provide attractive income and growth prospects for our investors.”
Bell at Plantation’s apartment homes offer a well-appointed mix of one, two and three bed-room units with granite countertops, 36” full wood shaker cabinets, GE stainless steel appliances, tumbled marble backsplash, wood plank flooring and 9’ ceilings.
Community amenities include a luxurious 5,800 square foot clubhouse with billiards, shufflepuck, and a theater room, as well as a fitness center with boxing and fitness-on-demand, and a kitchen area. The outdoor pool area has an expansive resort-style pool and pool pavilion with billiards table, seating area, TV and fireplace. The clubhouse and pool overlook an expansive lake with a walking path.
The purchase of Bell at Plantation will grow Bell’s Florida portfolio to 28 communities.
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 50,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has approximately 1,250 associates and 9 offices (including its headquarters in Greensboro, N.C.) and offers an extensive and full service platform containing expertise in acquisitions and dispositions, 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 $13 billion of apartment transactions since 2002, including nearly $1.2 billion in 2017 transaction.