Apartment real estate fund raises nearly $1bn

North Carolina-based Bell Partners announced this week that it closed its Bell Apartment Fund VII at its hard cap of $950 million in equity commitments.

The fund’s original target size of $800 million was far exceeded with commitments coming from a broad range of domestic and international institutional investors, including investors from previous funds as well as accredited high-net-worth investors.

According to Bell Partners, the fund has the capacity to acquire over $2.5 billion in apartment investments with leverage. Park Hill served as an advisor during the fund formation process . . .

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