Bell Partners Inc has acquired Hanover Westford Valley and Hanover Westford Hills, two adjacent apartment communities located in Westford, Massachusetts. No financial terms were disclosed.
GREENSBORO, N.C., Dec. 16, 2020 /PRNewswire/ — Bell Partners Inc., one of the nation’s leading apartment investment and management companies, today announced that it has acquired Hanover Westford Valley and Hanover Westford Hills, two adjacent apartment communities located in Westford, Mass., on behalf of the firm’s Fund VII investors. The two properties will be merged to form Bell Westford, which will be the 5th community Bell Partners owns in the greater Boston area.
Bell Westford is located along the bustling I-495 corridor, home to a wide range of technology and healthcare employers including IBM, Abbott Laboratories and NetScout, as well as retail amenities at The Point Shopping Center and Cornerstone Square. For those working in Boston, the nearby Littleton/Route 495 commuter rail station provides direct access to North Station via the Fitchburg Line. The community is also close to popular family-friendly attractions including Nashoba Valley Ski Area, The Butterfly Place, the Main Street Windmill and Kimball Farm.
“Residents at Bell Westford have convenient access to Boston’s employment while enjoying the high-quality suburban lifestyle with access to some of the best public schools in Massachusetts,” said Nickolay Bochilo, Executive Vice President of Investments at Bell Partners. “Our investment in two adjacent properties and combining operations post-closing reflects a targeted approach to creating value for the residents and investors through operating synergies, while benefiting from demographic shifts towards suburban living in a high-quality market like Boston.”
Bell Westford includes a mix of 408 apartments and 12 townhomes. Each apartment has stainless steel appliances, tile backsplashes, custom cabinets, spacious quartz islands, pendant lighting, full-size washers and dryers and private balconies. Community amenities include two resort-style pools, outdoor lounge areas with gas firepits, an on-site walking trail, a dog park, a pet spa, a fitness center with a Peloton, a resident clubhouse, a private media room with theater-style seating, a conference room and private workstations. 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 over $1 billion in 2020 transactions. For more information, visit our website at www.bellpartnersinc.com.