Lincoln Green Sells for $44.1 Million

Bell Partners recently sold Lincoln Green for $44.1 million but will continue managing the property. From an article in the Triad Business Journal:

A Texas-based firm has purchased one of Greensboro’s largest apartment complexes for $44.1 million.

Lincoln Green, a 616-unit complex located at 2205 New Garden Road, was purchased Thursday by Elite Street Capital, a real estate investment firm located in Houston and Tel Aviv, Israel…

“This disposition is another example of how Bell is rotating out of older assets in smaller markets and targeting newer assets in larger markets,” said Bell Partners spokeswoman Laurenn Wolpoff.

Last month, Bell purchased a 164-unit complex in Marlborough, a suburb of Boston, for an undisclosed price, bringing the total number of units it owns and manages in the Greater Boston suburbs to 844.

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