SOUTH SAN FRANCISCO, CALIF., AND READING, MASS. — Greensboro, North Carolina-based Bell Partners has acquired Bell South City West in South San Francisco and Bell Reading Commons in Reading in separate transactions totaling $226 million.
The 195-unit Bell South City West, formerly known as Celeste, traded for $130 million, according to the San Francisco Business Times. Sares Regis Group of Northern California and an institutional equity partner sold the property.
The 204-unit Bell Reading Commons, formerly known as Reading Commons, sold for $96 million, according to the Boston Business Journal. The seller was an affiliate of J.P. Morgan Asset Management.
Berkadia represented the seller in the California transaction, while Walker & Dunlop arranged the Massachusetts sale.