Bell Partners Adds to Arlington Portfolio
By Keith Loria December 30, 2019 12:49 pm
reprints
Bell Partners has acquired Vista on Courthouse, a 220-unit apartment building in Arlington, Va., from Equity Residential (EQR), according to the buyer, which is renaming the building Bell at Courthouse.
The sales price was not disclosed and not ascertainable by press time, though the property was assessed at $105 million earlier this year.
“We are focused on acquiring rental housing communities in high quality locations where we can leverage Bell’s platform to enhance value,” John Blaylock, Bell Partners’ senior vice president of investments, said in a prepared release. “The Bell at Courthouse investment fits well within our investment strategy and is a complementary asset to our Washington metro portfolio.”
Built in 2008 and located at 2200 12th Court N, Equity Residential acquired the property in 2010 from Sunburst Hospitality for $85 million.
The deal marks Bell Partners’ second acquisition in Arlington this year; it previously acquired Bell Arlington Ridge at 2400 24th Road S in June, according to a prepared release.
“The Rosslyn-Ballston Corridor is an attractive place to live and work and has projected strong employment growth,” Blaylock added. “We also plan to renovate the amenity spaces and unit interiors to enhance the resident living experience.”
The building is situated in the popular Rosslyn-Ballston Corridor providing convenient access to numerous major employers including the upcoming Amazon (AMZN)’s HQ2 at National Landing. It’s close to Courthouse Metro, making it easy to get to and from D.C. and major Northern Virginia cities.
Building amenities include a swimming pool, a fitness center and a BBQ grilling area, per the prepared statement. All townhomes have floor-to-ceiling windows and expansive views of the Washington, D.C., monuments.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
