Bell Partners Continues to Grow Texas Portfolio With Acquisition of 339-Unit Lenox Boardwalk Apartment Community in Austin
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AUSTIN, TX – Bell Partners Inc., one of the country’s leading residential investment and management companies, has acquired Lenox Boardwalk, a 339-unit residential complex in Austin, Texas. The property acquired on behalf of the company’s Bell Core Fund I investors will be renamed Bell Lakeshore and is the fourth acquisition by Bell Partners in Texas in 2021 as the company continues its expansion in the central and western US
Located two miles from Austins The Bell Lakeshore central business district provides residents with easy access to leading local employers. The property is adjacent to Oracle’s 40 acre campus, which recently became the company’s new headquarters and houses up to 10,000 employees. Further employment growth is expected in the region with several planned office developments.
In addition to being close to work, Bell Lakeshore offers residents close access to popular recreational destinations. The property is just a few minutes’ walk from a network of running and cycling trails in the area Lady Bird Lake, offers walking access to downtown as well Austins Cultural center of the southern congress.
“We are very happy, our Austin Portfolio with the acquisition of Bell Lakeshore, “said Nickolay Bochilo, EVP of Investments at Bell Partners. “Our investment in Bell Lakeshore reflects our belief in the continued increase in quality jobs Austin and the corresponding demand for high quality living space. We seek investment opportunities in emerging markets with favorable supply and demand characteristics that result in stable growth and limited downside risk over time. “
Amenities at the Bell Lakeshore, built in 2018, include a two-story fitness center, resort and lap pools, and courtyards. The property also has 498 parking spaces.
Bell Lakeshore complements Bell’s growing Texas portfolio. The Company recently announced the acquisition of two Austin properties on behalf of Bell Fund VII to create the 949-unit Bell Southpark and the 435-unit Bell CityLine Dallas on behalf of Bell Core Fund I.
Source: Bell partner
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