Subjects: TNM, RLE
Bell Partners Acquires Westwind Farms, a 464-Unit Apartment Community in Ashburn, Va.
GREENSBORO, N.C., Nov. 23, 2020 /PRNewswire/ -- Bell Partners Inc., one of the nation's leading apartment investment and management companies, today announced that it has acquired Westwind Farms, a 464-unit apartment community in Ashburn, Va., on behalf of its Fund VII investors. Westwind Farms will be renamed Bell Ashburn Farms and represents Bell Partners' 10th owned community in the DMV area following the acquisition of Bell Shady Grove announced last week.
Bell Ashburn Farms is located near the Dulles Technology Corridor and the Silver Line Metrorail, providing access to one of the nation's leading technology hubs which plays host to over 6,000 companies including Microsoft and Amazon. The community's location also offers a short commute to Loudoun County and western Fairfax County, which have extensive shopping options. Loudoun County schools consistently rank as some of the best in the country, providing an additional draw for renters.
"Bell Ashburn Farms is a beautiful, low-density asset with great renovation upside," said John Blaylock, Senior Vice President of Investments at Bell Partners. "As the technology sector continues to drive growth in the global economy, companies are flocking to technology hubs on the East Coast like the Dulles Technology Corridor, one of the leading employment submarkets in the nation. The highly educated demographics, robust job growth and convenient transportation options give us confidence in the future of the D.C. metro apartment market."
Each unit at Bell Ashburn Farms has ceiling fans in the master and living rooms, crown molding, soaking tubs, built-in wine storage, full-size washers and dryers, and walk-in closets. Community amenities include a clubhouse with billiards and plasma TVs, a fitness center, a business center with a Wi-Fi lounge, Amazon hub lockers for 24/7 package access, a resort-style pool with a sundeck, a playground, a picnic area with BBQ grills, and a dog park. Bell Partners closely follows guidelines from local, state and federal health authorities regarding the operation and cleanliness of community amenities.
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 63,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has over 1,500 associates and eight 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 $16 billion of apartment transactions since 2002, including nearly $1 billion in 2019 transactions. For more information, visit our website at www.bellpartnersinc.com.
Contacts:
John Perilli / Allie Rudden
Prosek Partners for Bell Partners Inc.
(212) 279-3115
[email protected] / [email protected]
SOURCE Bell Partners Inc.
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