Bell Partners Inc.

Founded in 1976, Bell Partners Inc. (“Bell Partners” or “Bell”) is a private real estate company focused primarily on the acquisition and management of high-quality apartment communities located in the Northeast, Mid-Atlantic, Southeast and Southwest United States. The National Multi-Housing Council currently lists Bell Partners as the 12th largest apartment operator in the United States, with a management portfolio of more than 64,000 homes valued at over $5 billion dollars across 15 states with over 1,500 associates. Since 2002, the company has completed nearly $7 billion of apartment transactions. Bell Partners is headquartered in Greensboro, NC, and has 9 regional offices. The company is a fully-integrated real estate enterprise with expertise in acquisitions and dispositions, financing, property operations and all related support functions. Bell Partners seeks to provide attractive, risk-adjusted returns to its investors by acquiring well-located, high-quality apartment communities to which the company believes it can add value through its operating platform. The company is generally seeking to acquire high-quality apartment assets with at least 150 homes in the Northeast, Mid-Atlantic, Southeast and Southwest, but will also consider the purchase of larger apartment portfolios in other strong markets in the U.S. The company will also consider entering into development joint ventures with highly qualified, experienced developers. Investment Criteria Geographic Area: Northeast, Mid-Atlantic, Southeast, and Southwest regions of the United States Product Type: Garden, mid-rise or high-rise apartment communities Investment Size: Greater than $10 million and communities containing at least 100 apartments Deal Structure: Cash, assumed debt (conventional, bonds, other) or joint ventures Acquisition Interests: (i) Older communities that are in strong, in-fill locations and are candidates for a renovation (ii) Newer, institutional quality properties (iii) Pre-sale or development opportunities

Real Estate Specialization
Investment Type
JV partnership
Acquisition/Fee Simple
Investment Style
Typical Deal Size
$10,000,000 - $50,000,000
Chairman and Chief Executive Officer

Steven Bell

Mr. Bell founded Steven D. Bell & Company (renamed as Bell Partners Inc. in 2009) in 1976 with eight properties and 21 employees. He brings to the company a wealth of real estate ability, knowledge and experience. As CEO, he chairs the company's Investment Committee and is active in all aspects of the company. He cultivates and maintains relationships with investors, interacts with the Bell leadership team and visits properties and associates in the field. Earlier in his career, Mr. Bell worked in mortgage banking and commercial real estate brokerage. Mr. Bell graduated from the University of North Carolina at Chapel Hill. He is active in a number of philanthropic, civic and other boards and organizations.

Chief Investment Officer

Lili Dunn

Ms. Dunn joined Bell Partners in 2010 as the CIO. She is responsible for guiding the company's investment strategy, broadening its institutional capital sources, strengthening the investment and portfolio management infrastructure and overseeing the transaction and financing platforms. Prior to joining Bell Partners, Ms. Dunn was a 20-year veteran with AvalonBay Communities, a leading public apartment REIT and a member of the S&P 500, and Trammell Crow Residential, its predecessor entity. In her role as Managing Director at AvalonBay, she was responsible for the company's national transaction activity, which consisted of roughly 60,000 apartment homes valued at approximately $6.5 billion. Ms. Dunn also helped to raise and oversee AvalonBay's Valued Added Funds (discretionary institutional investment vehicles), with total equity commitments of $730 million. Ms. Dunn is a Board Member of the National Multi Housing Council and was Chairperson of its Finance Committee from 2006 to 2010. Ms. Dunn earned her BS from the University of Michigan where she graduated with highest honors.

Senior Vice President - Investments

Nickolay Bochilo

Mr. Bochilo joined Bell Partners in 2001. He currently oversees acquisition, disposition and related financing activities in several of the company's markets. Mr. Bochilo has been involved in transactions valued in excess of $4 billion since joining the company, spanning across apartment, retail and senior housing holdings. He is a member of Urban Land Institute and NMHC's Emerging Leaders Committee. A native of Belarus, Mr. Bochilo came to the U.S. in 1998 through the Future Leaders Exchange scholarship sponsored by the US Department of State. He holds an MBA from the Darden School of Business at the University of Virginia and a BS degree in Business and Economics from Greensboro College where he graduated with honors.

Senior Vice President - Investments

Joseph Cannon

Mr. Cannon joined Bell Partners in 2009 and oversees acquisitions, dispositions, and related financing activities in several of the company's markets. Mr. Cannon has been involved with transactions valued in excess of $1.5 billion since joining Bell Partners. Prior to joining Bell Partners, he was a Vice President in various real estate groups within Wachovia's Corporate and Investment Banking Division, where he focused on corporate finance, CMBS, and securitization initiatives. Mr. Cannon has both an MBA and BSBA from the University of North Carolina at Chapel Hill where he was Michaux Fellow and graduated with honors.



Mr. Bell joined Bell Partners in 2001. As President, he chairs the company's Executive Committee and is involved in all aspects of the business, with a particular emphasis on transactions, capital and company strategy. Since joining Bell Partners, Mr. Bell has overseen company transactions exceeding $7 billion in value. Prior to joining Bell Partners, Mr. Bell was employed by Lend Lease Real Estate Investments (now Morgan Stanley) pursuing acquisitions and, before that, by Faison & Associates, selling properties on behalf of its institutional clients. Mr. Bell has an MBA (real estate and finance) from the University of North Carolina at Chapel Hill and a BS in real estate and finance from the University of Georgia.


Mike Lamb


David Dorich

Vice President

Mark Vernon

Maintenance Technician

Anna Skinner


Taylor Humphrey


Zack Matheny


Lincoln Green


Forest Bell

Vp Of Operations

Chris Gilmore

Sarofim Realty Advisors

Key Focus Areas
Acquisitions Asset Management Development Leasing Property Management
Geographical Area
Mapped Location