Bell Partners Inc has acquired Pompano Beach, Florida-based Overlook Pointe, an apartment community. No financial terms were disclosed. The property will be renamed Bell Lighthouse Pointe.
GREENSBORO, N.C., Aug. 12, 2019 /PRNewswire/ — Bell Partners Inc., one of the nation’s leading apartment investment and management companies, today announced that it has acquired Overlook Pointe, a 249-unit apartment community in Pompano Beach, Fla. on behalf of its Fund VI investors. The property will be renamed Bell Lighthouse Pointe and be managed by Bell.
Situated between the growing job and housing markets of Fort Lauderdale and Boca Raton, and located 2.5 miles from the beach, Bell Lighthouse Pointe provides residents convenience for both work and leisure. The community is on North Federal Highway, ideal for those commuting to employment hubs in Broward and Palm Beach County. In addition, the property is situated close to a cluster of retail shopping and dining at Las Olas Boulevard, Galleria Mall and Mizner Park. For travelers, the property is less than 30 minutes away from Fort Lauderdale-Hollywood International Airport, which serves all major U.S. airlines and numerous international carriers.
“Greater Fort Lauderdale is experiencing strong population growth and an expansion of job opportunities, making the area highly attractive to both residents and investors,” said Kary Nordholz, Senior Vice President of Investments at Bell Partners. “The region’s strong economic development is driven by its favorable business and tax climate as well as the high quality of life it offers residents. This growth has led to higher demand for multifamily housing, and Bell Partners continues to identify investment opportunities in this business hub of South Florida.”
Bell Lighthouse Pointe offers one, two- and three-bedroom apartments with stainless steel appliances, granite countertops, and washer/dryer in each home. Residents of the community have access to amenities which include a resort-style swimming pool, a BBQ area with grills, a fitness center, free Wi-Fi in common areas and a coffee bar exclusive to residents. The property also has a six-story parking garage with 413 spaces. Including Bell Lighthouse Pointe, Bell Partners manages 32 communities in Florida.
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 55,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has nearly 1,300 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 $15 billion of apartment transactions since 2002, including nearly $2 billion in 2018 transactions. For more information, visit our website at www.bellpartnersinc.com.