The fund materially exceeded its target size of $800 million, with commitments coming from a broad range of domestic and international institutional investors.

Bell Partners announced in June that it has completed the final close for Bell Apartment Fund VII at its hard cap of $950 million in equity commitments.

The fund materially exceeded its target size of $800 million, with commitments coming from a broad range of domestic and international institutional investors, including many investors from Bell Apartment Fund VI, as well as accredited high-net-worth investors. The fund can acquire more than $2.5 billion in apartment investments with leverage.

Bell Apartment Fund VII is a value-add strategy that focuses on investing in high-quality market-rate apartment communities in 14 target markets across the United States. The fund intends to create value by enhancing operations, implementing renovations and capitalizing on price dislocations. It has already purchased three properties in Dallas, Washington D.C. and Seattle. Bell's extensive nationwide operating platform and sophisticated business intelligence capabilities will continue to help the company identify opportunities and effectively deploy capital.

"The fact that we were able to close Bell Apartment Fund VII above our target despite the volatility caused by COVID-19 is a strong vote of confidence from our investors," said Jon Bell, CEO of Bell Partners. "Bell Partners has weathered numerous economic downturns during its four-and-a-half decades in business, and while this one is certainly unusual, we are well-positioned to navigate it. I'm humbled by the amount of support we have received and am confident that we will continue to outperform for our investors."