Bell Partners has so far raised $950m (€874.9m) for its latest US value-add apartment fund according to the Ohio Bureau of Workers Compensation Board (BWC).
In a meeting document, Ohio BWC said it has approved a $75m commitment to the Bell Apartment Fund VII and expects to commit the same amount to another value-add fund this year.
The fund’s manager Bell Partners co-invested $17m into the Fund VII fund, which was reportedly seeking to raise $800m. The manager reportedly raised $600m for the predecessor Bell Apartment Fund VI fund in June 2017.
In the meeting document, Ohio BWC said it is planning a one-year extension to its contact with investment consultant RVK from July this year, the last of two one-year extensions permitted.
Ohio BWC plans to issue a new request for proposal for investment consulting services in October for a new three-year contract.