Multifamily developer Bell Partners has acquired a 148-unit apartment complex in Salem for $52.2 million.
The seller, Taymil Partners of Framingham, paid $36 million for the Vinnin Square Apartment Homes property in November 2015.
Greensborough, North Carolina-based Bell Partners is rebranding the property as Bell North Shore and will manage the complex. Bell Partners acquired the property on behalf of its $600 million closed-end discretionary Fund VI.
Bell Partners Senior Vice President John Blaylock said in a statement that the Greater Boston market will continue to experience strong rental growth in the near term. The acquisition expands Bell Partners’ local portfolio to seven communities.
The Salem complex includes two 5-story buildings, 16 townhouses and two six-unit buildings. Common area amenities include a clubhouse, swimming pool, fitness center and lighted tennis courts.