Hines acquires 539 apartments and Dallas Bishop Arts retail from Exxir
JLL Capital Markets arranged the sale for seller-developer Exxir; no price was disclosed.
At a glance
Hines has acquired the Bishop Arts portfolio in Dallas from Exxir, the seller and developer owned by the Nazerian family.
JLL Capital Markets arranged the sale and represented Exxir, according to Connect CRE.
The apartment component — Bishop North, Bishop Canopy, Bishop Flats and Treehaus — averages a 2021 vintage and is 94% leased.
Hines has acquired the Bishop Arts portfolio in Dallas from Exxir, the seller and developer owned by the Nazerian family. The portfolio comprises four Class A apartment buildings and 40,747 square feet of retail on North Bishop Avenue.
JLL Capital Markets arranged the sale and represented Exxir, according to Connect CRE. The report does not disclose a price.
The apartment component — Bishop North, Bishop Canopy, Bishop Flats and Treehaus — averages a 2021 vintage and is 94% leased. The addresses are 200 North Bishop Avenue, 515 West 10th Street, 305 Melba Street and 211 West 10th Street.
The retail portion covers 1.07 acres in buildings finished in 2018 and 2019 and is 98.2% leased. The surrounding Bishop Arts District is anchored by independent restaurants, local bars and retail, per the same report.
| Component | Properties | Units / Area | Occupancy | Vintage |
|---|---|---|---|---|
| Multifamily | Bishop North, Bishop Canopy, Bishop Flats, Treehaus | 539 units | 94% leased | 2021 average |
| Retail | Bishop Arts retail | 40,747 sq ft on 1.07 acres | 98.2% leased | Built 2018–2019 |
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