ROCKVILLE, MD – Bell Partners, a leading US home investment and management company, announced that it has acquired Siesta Key, a Rockville, Md., Shared apartment that is being renamed Bell Shady Grove. This acquisition marks the 4th community owned by Bell Partners in the state of Maryland and the 18th community administered in the greater DC area. Bell Shady Grove was taken over on behalf of a company between Bell Partners and HANSAINVEST Real Assets GmbH, a leading investment company based in Hamburg.
Bell Shady Grove was built in 2018 and is a medium-sized community of 315 units that provides residents with convenient access to downtown Rockville, Bethesda and Washington, DC via multiple modes of transport. The community is adjacent to I-270 and I-370 / Maryland Route 200 and is not far from the city's Red Line subway station. Bell Shady Grove is also located on the Biotechnology and Life Sciences Corridor of I-270, one of the country’s premier medical research, testing and development centers. The National Institutes of Health, the National Cancer Institute and the US Food and Drug Administration have their headquarters in the US area. Nearby developments such as Downtown Crown and Rio Washingtonian Center provide residents with access to gyms, movie theaters, restaurants, and a variety of retail outlets.
"This acquisition marks another step for Bell Partners into the DC subway market, which we believe offers good economic prospects with a wide range of stable public sector employment opportunities," said John Blaylock, Bell Senior Vice President, Investments Partners. "We are particularly confident in the Rockville submarket, which is home to many of the critical national health agencies that play a key role in combating the ongoing public health crisis."
All units at Bell Shady Grove have hardwood floors, custom backsplashes, tiled tubs, full size washers and dryers, stainless steel appliances, and granite countertops in the kitchens and bathrooms. The communal facilities at the Bell Shady Grove include a rooftop lounge area, TV, fireplace and billiards table, a club room with a play area, a business center with a computer lounge, a fitness center with a private yoga studio and a conference area with private workstations. Bell Partners closely follows the guidelines of local, state, and federal health authorities regarding the operation and cleanliness of community facilities.
Source: Bell Partners