Bell Partners And Sterling Organization Acquire Multifamily Portfolio From Federal Realty Investment Trust For $170M

The transaction involved a two-property portfolio consisting of a multifamily asset in the Rockville, MD, and Bristol, CT markets. The total sale price for the portfolio was $170,000,000, which included the 315-unit Pallas at Pike & Rose located at 11550 Old Georgetown Road, sold for $126,000,000, and the 263,000-square-foot Bristol Plaza in Connecticut sold for $44,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $170,000,000
• Buyer: Bell Partners & Sterling Organization
• Seller: Federal Realty Investment Trust
• Address: 11550 Old Georgetown Road & 641 Farmington Avenue
• Market: Rockville, MD & Bristol, CT
• Pallas at Pike & Rose Units: 315
• Bristol Plaza Square Footage: 263,000

This transaction was facilitated by Federal Realty Investment Trust, which strategically divested the properties to Bell Partners and Sterling Organization, reflecting significant activity in the multifamily sector in the respective regions.