REAL ESTATE INVESTMENT
Bell Partners | December 21, 2021
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.
REAL ESTATE INVESTMENT
prnewswire | November 02, 2020
Dar Al Arkan, the main land improvement organization in KSA, has reported the dispatch of its first European private task. The 500,000 sqm extravagance advancement will be situated in Bosnia and Herzegovina inside a staggering woods only a short ways from the nation's capital, Sarajevo. The venture is scheduled to kick things off in the early piece of 2021.
The organization has made sure about the metropolitan and government endorsement on this task which will be the biggest single land venture in Bosnia and Herzegovina.
Announcing the launch, Mr. Yusuf bin Abdullah Al-Shalash, Chairman of Dar Al Arkan Real Estate Development, said: "Today, Dar Al Arkan has placed a golden opportunity into the hands of investors. Bosnia and Herzegovina is a cultural destination with an authentic history, traditions and a wonderful natural environment. The country is growing in popularity, so this is a perfect investment for those wishing to be part of the country's developing luxury tourism and hospitality sector."
He also added: "This will be a wonderful haven for those wishing to relax within a private, second-home gated community surrounded by luxury facilities and services. We believe the development will attract both Bosnian and international investors."
The task will consolidate contemporary estates motivated by neighborhood engineering and highlight up-to-date insides that amicably mix with the fabulous perspectives. Offices will incorporate a clubhouse, an inn and spa, an exercise center, food and refreshment outlets and a youngsters' play area.
About Dar Al Arkan Real Estate Development Company
Dar Al Arkan Real Estate Development Company is a Saudi joint stock company, active in real estate development and headquartered in Riyadh, KSA. The company was founded in 1994 by six prominent business families who have, between them all, vast experience in real estate development. Its activity is to purchase and own real estate and land, general contracting, construction of commercial and residential complexes. Throughout its long history, the company has executed a number of successful real estate projects and contributed to the development of efficient real estate solutions for the regional market, through more than 30 commercial, residential, and real estate projects.
Dar Al Arkan Real Estate Development Company is a major contributor playing an important role to help achieve the goals of Vision 2030 in regard to real estate development.
REAL ESTATE INVESTMENT
Greater San Diego Association of REALTORS® | December 09, 2021
The Greater San Diego Association of REALTORS® (SDAR) announces an additional grant support for Smart Coast California, a 501(c)(6) organization founded by REALTORS® in response to sea level rise policies impacting coastal communities and property owners. The most recent grant in the amount of $495,000 was approved by the National Association of REALTOR® (NAR) on December 2, bringing the total grant awards this year to $1.07 million.
SDAR President Carla Farley also serves as the 2021 President of Smart Coast California. The organization was founded in 2019 to monitor coastal policies and be a strong voice advocating for the protection of communities and the property rights of homeowners. Smart Coast California membership includes 29 local REALTOR® associations along California's 1,100-mile coastline.
"The Greater San Diego Association of REALTORS® is not only the voice for real estate professionals, but also for property owners throughout San Diego County.We helped to form Smart Coast California to ensure a strong, unified voice was in place up and down California's coastline in defense of property rights and of our coastal communities."
Previous grant funds totaling $300,000 were approved on October 5 by the California Association of REALTORS® (C.A.R.) IMPAC Trustees. The organization was earlier awarded $212,000 in August by NAR. The funds will be used to enhance monitoring capabilities, expand advocacy initiatives, and grow the organization.
"Few individuals are aware of some of the controversial policies being advanced by the California Coastal Commission, including managed retreat, which would require the removal of needed protective devices, such as sea walls," explained Farley. "These policies are an affront to property rights and would prevent our coastal communities and property owners from defending their homes and neighborhoods from rising seas," she continued. "Through Smart Coast California, we monitor and respond to the actions of the California Coastal Commission and advocate for balanced coastal management policies that will protect the unique character of our coastal communities and the property rights of the individuals who call these areas home."
At issue, the California Coastal Commission (CCC) is working with California's coastal cities and counties to update their Local Coastal Programs (LCPs) to account for sea level rise. Among the more controversial policies the CCC is recommending is "managed retreat," a coastal management policy that calls for relocation or removal of coastal structures, including homes, inland away from rising tides. This issue led to a decision on June 7 by the Del Mar City Council to withdraw their proposed update to their LCP, refusing to accept the CCC's recommended policies. Del Mar is now one of several cities who have withdrawn their proposal from consideration by the CCC.om
"We've been tremendously active up and down the coast over the past 18 months, including weighing in on 16 local coastal plans as well as several related California Coastal Commission actions and state legislative proposals,The support we've received from our state and national associations, in conjunction with the funds from our coalition of local REALTOR® associations throughout the state, is instrumental to the success we've enjoyed this year and expect to continue in the years ahead."