KKR Provides $73M Refi on L.A. Apartments

Bell Partners has nabbed a $73 million loan to refinance a multifamily complex in Los Angeles, Commercial Observer has learned.

Funds managed by KKR (KKR) provided the loan for the sponsorship’s Bell South Bay Apartments on the eastern edge of L.A.’s El Segundo neighborhood.

Walker & Dunlop arranged the transaction with a multifamily finance team led by Justin Nelson and Craig West.

“The continued volatility of the market presented challenges as we advised on this transaction throughout 2024, but we are very proud of the outcome and grateful to have successfully closed on such a well-managed and strategically located community,” Nelson, senior managing director of capital markets at W&D, said in a statement.

Located at 1622 Aviation Boulevard southeast of Los Angeles International Airport, the 2016-completed Bell South Bay consists of 216 units from studios to two-bedrooms on 3 acres. Community amenities include a fitness center, coworking spaces, pool cabanas, a yoga studio and a parking garage.

Greensboro, N.C.-based Bell Partners was ranked as the 26th-largest multifamily property owner by Multi-Housing News in December. In June 2020, it closed a Bell Apartment Fund VII with $950 million in equity commitments, CO reported at the time. 

Officials at KKR and Bell Partners did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com