Multifamily investment specialist Bell Partners has closed on a fund that will give it the ability to acquire roughly $3.2B of properties across the country.
The North Carolina-based firm closed its Value-Add Fund VIII at $1.3B, above its target of $1B, it said in a press release. Investors include domestic and international entities, many of whom put money into the company’s previous funds, according to the release.
With leverage, the fund has investment capacity of about $3.2B, which will allow it to invest in “renovations, enhanced operations, and investment in transitioning neighborhoods,” according to a company statement.
The fund is targeting market-rate properties…