Bell Buckhead West, a 280-unit apartment community in Buckhead, has been acquired by RangeWater Real Estate. The property was acquired through a joint venture. The company will renovate the property and upgrade its amenities.
RangeWater Real Estate Has Acquired Bell Buckhead West
RangeWater Real Estate and Heitman Investment Management acquired Bell Buckhead West, a Class A apartment community in Buckhead. The property was acquired in a joint venture by the two companies.
According to the RangeWater’s announcement, the acquisition was completed off-market through RangeWater’s relationship with the property’s previous owner, Bell Partners.
The property has since been renamed Blaine Buckhead West. According to Bizjournal, the property changed hands for $54.9 million, or roughly $196,000 per unit.
Brian Soss, Executive Managing Director of Acquisitions at RangeWater Real Estate, said the company uses market insights, industry relationships, and local expertise to identify investment opportunities. He added that RangeWater sees potential to create long-term value through targeted property improvements.
RangeWater currently owns or manages 9,744 units across the Atlanta metropolitan area. It includes 2,140 units within five miles of Bell Buckhead West.
Property Details and Renovation Plans
Bell Buckhead West was built in 2015 and sits on 5.56 acres. It includes studio, one-, and two-bedroom apartments. The five-story community also offers structured parking.
Bell Buckhead West provides access to Buckhead, Midtown, Cumberland, Central Perimeter, and Downtown Atlanta through Interstate 75. More than 1.6 million square feet of medical office space is located within one mile of the property. It includes facilities affiliated with Wellstar, Piedmont, and Emory.
RangeWater plans to make select interior renovations and amenity upgrades to improve the resident experience. The property is located in a supply-constrained area with access to major employment centers and strong demand for rental housing.
The acquisition adds Bell Buckhead West to RangeWater Real Estate’s growing Atlanta portfolio. The company aims to enhance the property while meeting demand for rental housing in Buckhead with the planned renovations and upgrades.
