Investor

North Carolina apartment investor buys Touchstone Apartments for $117.5 million – BizWest

BROOMFIELD – Bell Partners Inc., a North Carolina-based multi-family housing investment and management firm, this month purchased the Touchstone Apartments community in Broomfield for $117.5 million, one of the largest City Single Asset Residential Transactions of the Year.

Through holding company Bell Fund VII Broomfield LLC, Bell purchased the 2018-built 292-unit complex from Ridge at Broomfield Fund XI LLC, an entity controlled by Boston-based investor TA Realty.

Touchstone will be rebranded Bell Broomfield, Bell said in a press release.

The community has one, two and three bedroom units. Facilities include garages, fitness center and swimming pool.

Bell’s purchase of the property was part of a larger $313 million three-property swap that saw Bell absorb apartment communities in Atlanta and Frisco, Texas.

“We are excited to acquire a portfolio of differentiated, high-quality properties located in submarkets with sound supply and demand fundamentals,” said Nickolay Bochilo, Bell’s executive vice president, Investments, in the press release. “At a time of heightened financial market turbulence, this portfolio aligns with our long-term strategy of pursuing investments in our target markets where we can leverage our local experience and broad operating platform. to enhance performance, using disciplined underwriting to reflect current and projected market conditions.”

BROOMFIELD – Bell Partners Inc., a North Carolina-based multi-family housing investment and management firm, this month purchased the Touchstone Apartments community in Broomfield for $117.5 million, one of the largest City Single Asset Residential Transactions of the Year.

Through holding company Bell Fund VII Broomfield LLC, Bell purchased the 2018-built 292-unit complex from Ridge at Broomfield Fund XI LLC, an entity controlled by Boston-based investor TA Realty.

Touchstone will be rebranded Bell Broomfield, Bell said in a press release.

The community has one, two and three bedroom units. Facilities include garages, fitness center and swimming pool.

Bell’s purchase of the property was part of…