Boston– Bell Partners announced that it has acquired Quinn35, a community containing 250 apartment homes located in Shrewsbury, MA. Bell Partners has managed the community since 2019.
The property was acquired on behalf of the Company’s Bell Value-Add Fund VIII and will be renamed Bell Shrewsbury. With this acquisition, Bell Partners now owns or manages a portfolio of approximately 3,600 apartment homes in nine apartment communities throughout the Boston metropolitan area.
Completed in 2018, Bell Shrewsbury is located at 35 Harrington Ave. in the Boston Metro West submarket near Downtown Worcester, UMass Medical Center and the 495/MetroWest corridor. The community is situated within the Lakeway Commons Lifestyle Center, which is anchored by a Whole Foods. Amenities include a modern clubhouse and social lounge, detached garages, electric vehicle charging stations, a 24-hour fitness center, recreation room with billiards, dog park and an outdoor lounge and heated pool.
“We are excited to continue enhancing our Customer Experience initiatives at this community,” said Cindy Clare, chief operating officer for Bell Partners. “I’m thrilled about the upgrades being planned for individual apartment homes and common areas, which we believe will deliver a superior living experience.”
“Boston is one of the 12 target markets across the U.S. that we’ve identified to acquire well-located, quality assets for our Value-Add Fund,” said Nickolay Bochilo, chief investment officer at Bell Partners. “This acquisition supports the Fund’s strategy of finding opportunities to add value-enhancing upgrades that appeal to our current and future residents and meet our investment objectives.”
Simon Butler, Vice Chairman and the Managing Director of CBRE’s Northeast & Mid-Atlantic region, brokered the transaction.
