Bell Partners Buys Milehouse Apartments in Redmond, WA from UDR for $78M

Greensboro, North Carolina-based Bell Partners acquired the Milehouse apartment complex in downtown Redmond, Washington from UDR, Inc. for approximately $78 million ($489,500 per unit) on March 30, 2026. The property, located at 8300 160th Ave. NE and rebranded as Bell River Trail, consists of 160 units. Bell Partners financed the acquisition with a $37.8 million Freddie Mac loan arranged by Walker & Dunlop. UDR had owned the property since 2017, when it was acquired for $70.2 million. - Bell Partners: Greensboro, NC-based multifamily investment and management firm managing approximately 70,000+ apartments; expanding in the Pacific Northwest. - UDR, Inc. (NYSE: UDR): Denver-based apartment REIT that has been selectively disposing of assets in certain markets as part of its portfolio optimization strategy. Realized a gain over its 2017 acquisition price. Bell Partners obtained a $37.8 million Freddie Mac loan from Walker & Dunlop at closing, representing approximately 48% LTV on the $78 million purchase price.