PARKER, COLO. — Bell Partners has acquired Montane Apartments in Parker, about 25 miles southeast of Denver. The property was acquired with a fund earmarked for value-add acquisitions. Bell Partners is planning unit upgrades. Neither the seller nor the sales price was disclosed. According to the Colorado Real Estate Journal, the asset was sold in 2019 for $120 million and was developed a year earlier by Alliance Residential. Montane Apartments has been renamed Bell Parker Ranch.
The 400-unit, garden-style community is comprised of one-, two- and three-bedroom floor plans. Amenities include a lazy river, clubhouse and green spaces. Jordan Robbins, senior managing director of JLL Capital Markets, brokered the deal. With this acquisition, Greensboro, North Carolina-based Bell Partners now owns or manages a portfolio of approximately 7,400 apartments in 21 communities across the Denver region.