CHAPEL HILL APARTMENT COMPLEX PURCHASED

CHAPEL HILL, N.C. — Bell Fund III and Bluerock Real Estate have purchased the 258-unit Apartments at Meadowmont from a private seller for an undisclosed price. The property, spread across 20 acres on Highway 54 East in Chapel Hill, is 97 percent occupied. Amenities include a clubhouse, a pool, a fitness center and two playgrounds. Bell will manage the property and complete renovations that are already in progress.