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South Arlington apartment complex sells for $75M

Bell Partners Inc. has acquired a 217-unit apartment building in south Arlington from real estate trust UDR Inc. (NYSE: UDR) for $74.73 million, or about $345,000 a unit.

The Greensboro, North Carolina-based Bell Partners, an apartment investment and management company, now owns or operates 20 complexes in the D.C. area. It acquired the property on behalf of its Fund VI investors, according to a release.

The building, located at 2400 24th Road S. by the Interstate 395 interchange at Glebe Road, has been renamed Bell Arlington Ridge from Twenty400. Built in 2010, Bell Arlington Ridge offers amenities like a two-story fitness center, resort-style pool, and a private dog run.

Bell Partners said it will make “various physical and operational enhancements to the community, which should result in a high-quality living experience for the current and future residents.” The building is a straight shot on I-395 to the Pentagon and just a few minutes drive, or bus ride, from Amazon.com Inc.’s…

Read the full story from the Washington Business Journal.