Bell Murrieta Springs in Murrieta, California

Bell Partners Acquires Silverado Apartment Homes in Murrieta, California, for $146.5 Million

by Channing Hamilton

MURRIETA, CALIF. — Bell Partners has acquired Silverado Apartment Homes in Murrieta, 65 miles north of San Diego, on behalf of the company’s Value Add Fund VII investors. Realty Center Management sold the asset to Bell Partners for $146.5 million. The new owner plans to rebrand the community as Bell Murrieta Springs.

Bell Murrieta Springs was constructed in 2007. The property offers 492 one-, two- and three-bedroom apartments with average unit size of 948 square feet. Amenities include a green belt with a walking trail surrounding the entire property, two pools and a clubhouse. The property also features access to Meadow Ridge Park, a city-owned park.

Kevin Green, Gregory Harris and Joseph Grabiec of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

You may also like