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Bell's 29-Property Sale Carries $677M Price Tag

GREENSBORO, NC-The apartment communities trade in two deals: one with an Orion/GE Capital joint venture and the other with DRA Advisors.

By Melissa Kress | Updated on September 04, 2007

(Read more on the multifamily market.)

GREENSBORO, NC-Locally based Steven D. Bell & Co. has sold 29 communities in two deals, worth a total $667 million. The properties are spread across the Southeast and Texas.

In the first deal, which closed late last month, Chicago-based Orion Residential and its joint venture partner GE Capital acquired two properties–one on Atlanta and one in Forth Worth. This deal carried a $105.5-million price tag. The apartment communities were built within the last 10 years and contain a total 914 units, according to a release from the Bell Co.

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