Bell Partners Inc., one of the nation's leading apartment investment and management companies, today announced it has acquired Routh Street Flats, a 208-unit apartment community located in Dallas, Texas. The property, to be renamed Bell Katy Trail, was acquired on behalf of a separate account venture between Bell Partners and HANSAINVEST Real Assets GmbH, a leading institutional investment firm based in Hamburg, Germany.
Located in the heart of Uptown Dallas, Bell Katy Trail offers residents access to dining, entertainment, shopping, and recreation opportunities. Bell Katy Trail is minutes from the West Village, a premier shopping and dining center, putting residents within walking distance of grocery and retail needs. The property is also near popular cultural and recreation spots, including the Arts District, Katy Trail and the Turtle Creek Greenbelt. Bell Katy Trail is also a short walk from the McKinney Avenue Trolley, connecting the property to a range of destinations in the city.
Completed in 2015, Bell Katy Trail features a mix of studio, one- and two-bedroom units. Common area amenities include a rooftop terrace with a fire pit and views of the city, an infinity saltwater pool and a fitness center. Apartment interiors include granite surfaces, stainless appliances and full-size washers and dryers.
As apartment residents increasingly seek well-located housing offering convenient, walkable access to employment, retail and cultural offerings, the acquisition of Bell Katy Trail reflects Bell Partners' targeted investment in urban submarkets like Uptown, With approximately 70,000 units currently under management, including over 7,700 units in Dallas, we will leverage our local experience and extensive operating platform to maximize performance."
Nickolay Bochilo, EVP of Investments at Bell Partners.
Bell Katy Trail follows the company's acquisition in August of Bell CityLine, a 435-unit community located in the Dallas suburb of Richardson. In June, Bell Partners acquired Lenox Springs and Lenox Meadows in Austin, merging operations with an existing Bell property, Bell Southpark, to form a combined 949-unit multifamily community. The company has completed $4.8 billion in transactions in 2021 and is actively investing in 14 target U.S. markets located in the Northeast, Mid-Atlantic, Southeast, Texas and West Coast.
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 rental communities throughout the United States. With approximately 70,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has over 1,600 associates and ten offices (including its headquarters in Greensboro, N.C.) and offers an extensive and full-service platform containing expertise in acquisitions and dispositions, construction, 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 $22 billion of apartment transactions since 2002.
About HANSAINVEST Real Assets
HANSAINVEST Real Assets GmbH stands for long-term experience and sustainable investments in the real estate and infrastructure sector. In total, more than 90 employees manage assets of over EUR 6.6 billion. In the real estate segment, the internationally positioned experts manage office, retail, hotel, logistics and residential properties in 19 countries. In addition to portfolio management, the areas of acquisitions and sales, asset management and project development are also covered. In the infrastructure segment, the international portfolio of infrastructure investments is managed with a volume of more than EUR 1.1 billion. Other services include the acquisition of assets and continuous portfolio management.