Bell Partners Inc. Closes $1.3 Billion Value-Add Fund

Bell Partners Inc. (the "Company" or "Bell"), one of the nation's leading multifamily investment and property management firms, today announced the final close of its Value-Add Fund VIII (the "Fund" or "Fund VIII") at a hard cap of $1.3 billion in equity commitments from a range of domestic and international investors, many of whom were existing partners in previous funds.

Fund VIII will deploy a value-add investment strategy, acquiring well-located, quality market-rate apartments in 14 target markets across the United States including Boston, Washington D.C., Raleigh, Charlotte, Atlanta, Fort Lauderdale, Orlando, Tampa, Austin, Dallas, Denver, Los Angeles, San Francisco and Seattle. With leverage, the Fund has investment capacity of approximately $3.2 billion. The Fund's value creation strategies include renovations, enhanced operations, and investment in transitioning neighborhoods.

"We are grateful for the support of our investors and are committed to consistently delivering strong performance throughout a full market cycle by leveraging our national platform and deeply experienced team," said Lili Dunn, Chief Executive Officer and President of Bell Partners Inc. "We are focused on carefully identifying attractive investment opportunities that create value for our investors."

"Apartment fundamentals remain solid, and we are confident that multifamily housing is well-positioned to withstand changing market conditions," said Joe Cannon, EVP, Portfolio Management, Bell Partners Inc. "As we evaluate opportunities to invest Fund VIII, we will continue to leverage the insights and capabilities from Bell's vertically integrated operating platform to identify attractive investment opportunities and maintain our record of creating value for our investors."

Hodes Weill Securities, LLC acted as the exclusive global placement agent to Bell Partners.

The close of Fund VIII follows the close of Bell Partners' $930 million Bell Core Venture in 2022, which complements the Company's value-add investment strategy. Since creating its fund platform in 2006, Bell Partners, Inc. has closed nine funds and numerous other separate accounts with total equity commitments of over $6.0 billion that have been launched and substantially invested on behalf of institutional and high net worth investors.

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