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Accredited high net worth investors and institutions have enabled Bell Partners, the US investment house, to beat its $800 million target for a fund, called the Bell Apartment Fund VII. The fund, which can buy more than $2.5 billion in apartment investments with leverage, was shut with a hard cap of $950 million in equity commitments.

Park Hill served as an advisor to Bell Partners during the fund formation process.

Bell Apartment Fund VII is a value-add strategy which focuses on investing in high-quality market-rate apartment communities in 14 target markets across the US. The fund intends to create value by enhancing operations, implementing renovations and capitalizing on price dislocations. It has already purchased three properties in Dallas, Washington DC and Seattle. 

“The fact that we were able to close Bell Apartment Fund VII above our target despite the volatility caused by COVID-19 is a strong vote of confidence from our investors," said Jon Bell, CEO of Bell Partners.

"Bell Partners has weathered numerous economic downturns during its four-and-a-half decades in business and while this one is certainly unusual, we are well-positioned to navigate it.”

The privately held Bell Partners firm was established in 1976.