Bell Partners has formed a venture with its institutional partners with a plan to buy over $1.5bn (鈧�1.3bn) worth of core US multifamily real estate assets.
The US apartment investment firm said it has formed an $800m core multifamily venture with the long-standing, that, with leverage, intends to invest in assets worth more than $1.5bn.
The initial capital commitments for the venture were made on 26 March and were anchored by partners from prior investment vehicles sponsored by Bell Partners, it said.
The newly created venture will buy 鈥渨ell-located, lower risk, high-quality multifamily properties in favourable submarkets across the US that can generate consistent cash flow with strong appreciation over a long-term investment horizon鈥�, the manager said.
Lili Dunn, president of Bell Partners, said: 鈥淲e pride ourselves on our relationships and deep commitment to outperforming for our investors.
鈥淭his venture is a part of Bell Partners鈥� strategic plan to further our product offering for our institutional partners and deepen our presence within our target markets with complementary vehicles.鈥�
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