The property will be renamed Bell Alpharetta and was purchased on behalf of the firm’s Bell Value-Add Fund VII investors. It’s the 11th Atlanta-area property owned or managed by Bell, according to a press release. Financial details of the transaction were not disclosed.
The community, which was built in 1998, offers one-, two- and three-bedroom apartments and includes a pool, gym and community room. It is situated on Alpharetta’s Alpha Loop, a multi-use path that provides access to downtown Alpharetta and the surrounding area.
“Bell Alpharetta is an exciting addition to the Bell Value-Add Fund VII portfolio,” said Nickolay Bochilio, executive vice president of investments at Bell Partners. “The community is located in one of the most-desirable areas of Atlanta with great schools, attractive lifestyle amenities and convenient access to a growing set of employers.”
Bell Partners plans to upgrade the asset’s common areas and apartment interiors.