- KKR provided a $73M loan to refinance the Bell South Bay Apartments, a 216-unit multifamily complex in El Segundo, Los Angeles.
- Walker & Dunlop arranged the deal, navigating market challenges to secure the financing.
- The property offers modern amenities such as coworking spaces, a yoga studio, and pool cabanas, catering to renters seeking a live-work-play environment.
KKR Group (KKR), through its managed funds, provided a $73M refinancing loan for Bell South Bay Apartments, a strategically located multifamily property on Aviation Boulevard in El Segundo.
Behind The Loan
Walker & Dunlop’s multifamily finance team, led by Justin Nelson and Craig West, brokered the deal, which was successfully closed despite a volatile lending environment in 2024, per Commercial Observer.
According to Nelson, “The continued volatility of the market presented challenges… but we are very proud of the outcome and grateful to have successfully closed on such a well-managed and strategically located community.”
Property Details
Bell South Bay, completed in 2016, spans 3 acres and includes 216 rental units ranging from studios to two-bedroom apartments.
Southeast of Los Angeles International Airport (LAX), the property benefits from its proximity to major employment hubs and transportation access. Amenities include:
- Fitness center and yoga studio
- Coworking spaces designed for remote work
- Resort-style pool cabanas
- Parking garage for residents
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Deal Motivations
Bell Partners, based in Greensboro, North Carolina, owns and manages the Bell South Bay Apartments. In December 2024, Multi-Housing News ranked it the 26th-largest multifamily property owner. Bell Partners has a long track record of acquiring and operating multifamily assets nationwide.
The firm is also a major player in the investment space. In 2020, Bell Partners closed Bell Apartment Fund VII, raising $950M in equity commitments for acquisitions across high-growth US markets.
KKR, a global investment firm, continues to expand its real estate presence, providing capital solutions for stable, income-producing properties like Bell South Bay.
What’s Next
The successful refinancing of Bell South Bay Apartments positions Bell Partners to continue operating and enhancing its portfolio of multifamily properties.
For KKR, the deal reinforces its role as a key capital provider in the multifamily sector, with future investments expected to focus on similar assets in high-demand regions. Meanwhile, Walker & Dunlop’s involvement showcases its ability to close deals in challenging markets.
As demand for high-quality rental housing remains strong in LA, institutional investors will likely be more interested in El Segundo.
