Stephen D. Bell buys apartments
Greensboro-based Steven D. Bell & Co. recently closed deals for apartment communities in North Carolina and Arkansas.
The company bought The Beckanna, a high-rise property in Raleigh, for $16.4 million from Beckanna, LLC. The recently renovated 254-unit complex was built in 1963 and is located near Crabtree Valley Mall.
Bell also has closed on a $10-million deal for Pleasant Valley Pointe, a 112-unit complex in Little Rock, Ark. The Greensboro real estate investor and manager has not purcahsed five apartment properties in the Little Rock area from Denver-based REIT AIMCO.
Bell's portfolio of apartments, offices and retail is worth about $3.3 billion.
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