{"id":1004040070,"date":"2012-04-27T04:33:56","date_gmt":"2012-04-27T12:33:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004038743"},"modified":"2022-12-08T09:51:41","modified_gmt":"2022-12-08T17:51:41","slug":"bell-partners-spends-66m-on-tampa-apartment-complex","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bell-partners-spends-66m-on-tampa-apartment-complex\/","title":{"rendered":"Bell Partners Spends $66M on Tampa Apartment Complex"},"content":{"rendered":"<p><strong>By Nicholas Ziegler, News Editor<\/strong><br \/>\n<a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/04\/042712-Bell-Channelside-Apartments-Tampa.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004038744\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/020112-530-fifth-ave-nyc-300x185\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/02\/020112-530-Fifth-Ave-NYC-300x185.jpg\" data-orig-size=\"300,185\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"020112-530-Fifth-Ave-NYC-300&#215;185\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/02\/020112-530-Fifth-Ave-NYC-300x185.jpg?w=300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/04\/042712-Bell-Channelside-Apartments-Tampa.jpg\" alt=\"\" title=\"042712 - Bell Channelside Apartments Tampa\" width=\"300\" height=\"212\" class=\"alignright size-medium wp-image-1004038744\" \/><\/a><\/p>\n<p>In a solid rental market that\u2019s dropped below 5 percent vacancy, Bell Partners has made a significant buy. The firm has just purchased the 422-unit Seaport Channelside apartments in Tampa for $66 million, bringing its total portfolio in the city to four properties. The new owner plans to rename the property Bell Channelside and will take over management duties.<\/p>\n<p>The purchase was made through a group of Bell-sponsored individual investors as well as Crow Holdings. Cushman &amp; Wakefield Inc. represented the seller.<\/p>\n<p>The asset was most recently managed by Synergy Partners, which began construction on the property in 2007. The 450,000-square-foot mid-rise complex was completed in 2008.<\/p>\n<p>Joe Cannon, Bell\u2019s vice president of investments, called the asset a \u201chigh-profile, unique property in a vibrant Florida city.\u201d He went on to discuss his firm\u2019s acquisition strategy of finding high-quality apartments in the Mid-Atlantic, Southwest and Southeast. The U.S. Multi-Housing Council ranks Bell as the 10th largest apartment management firm in the United States, with 227 properties nationwide.<\/p>\n<p>The Tampa area is primed for growth in the multi-family sector, according to a year-end 2011 report by Marcus &amp; Millichap Real Estate Investment Services Inc. With a second consecutive year of job growth, demand for rental housing should increase throughout the year. \u201cClass A vacancy in Hillsborough and Pinellas counties dipped to the low 5 percent range last year, well below historical norms,\u201d the report noted. \u201cAdditional declines in vacancy are difficult to achieve, but significant rent increases are clearly attainable for many operators.\u201d<\/p>\n<p>The property, a six-story building wrapped around a parking garage, is located on 6.7 acres and was 94.3 percent occupied at the time of sale.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a solid rental market that\u2019s dropped below 5 percent vacancy, Bell Partners has made a significant buy. The firm has just purchased the 422-unit Seaport Channelside apartments in Tampa for $66 million, bringing its total portfolio in the city to four properties.<\/p>\n","protected":false},"author":1201,"featured_media":1004039541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21808,21783,21742,21785],"tags":[],"class_list":["post-1004040070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-featured","category-investment","category-latest","category-property-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bell Partners Spends $66M on Tampa Apartment Complex - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bell-partners-spends-66m-on-tampa-apartment-complex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bell Partners Spends $66M on Tampa Apartment Complex\" \/>\n<meta property=\"og:description\" content=\"In a solid rental market that\u2019s dropped below 5 percent vacancy, Bell Partners has made a significant buy. The firm has just purchased the 422-unit Seaport Channelside apartments in Tampa for $66 million, bringing its total portfolio in the city to four properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bell-partners-spends-66m-on-tampa-apartment-complex\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-04-27T12:33:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T17:51:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/04\/042712-Bell-Channelside-Apartments-Tampa.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"424\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bell-partners-spends-66m-on-tampa-apartment-complex\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bell-partners-spends-66m-on-tampa-apartment-complex\/\",\"name\":\"Bell Partners Spends $66M on Tampa Apartment Complex - 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