Greensboro, N.C.-based real estate investment company Bell Partners Inc. has acquired its second Los Angeles County multifamily property, The Ellington, a 212-unit apartment complex at 3330 E. Foothill Blvd in Pasadena, and renamed it Bell Pasadena, for an undisclosed purchase price.
Bell Pasadena was built in 2016 and features four stories of residences and two levels of parking. It is located near the 210 freeway and the Los Angeles County Metropolitan Transportation Authority Gold Line’s Sierra Madre Villa station.
“Bell Pasadena represents the continuation of our strategy to invest in high-quality assets that provide attractive income and value growth prospects,” said Nickolay Bochilo, executive vice president of investments at Bell Partners, in a statement.
Earlier this year, Bell Partners purchased a 264-unit, 210,000-square-foot apartment complex at 11622 Aviation Blvd in Inglewood for $123 million from San Diego-based Fairfield Residential.
Real estate reporter Ciaran McEvoy can be reached at firstname.lastname@example.org or 323-556-8337.