Hines buys Dallas Bishop Arts Portfolio for $170.5M via Hines Global Income Trust
Connect CRE reports the apartments are 95% leased and the retail is 98% leased across 22 tenants.
At a glance
Hines has bought the Bishop Arts Portfolio in Dallas—539 apartments and about 49,000 square feet of street retail—for $170.5 million through Hines Global Income Trust, Connect CRE reported.
The multifamily portion is roughly 95% leased and the retail is 98% leased across 22 tenants, according to the outlet.
Hines has bought the Bishop Arts Portfolio in Dallas—539 apartments and about 49,000 square feet of street retail—for $170.5 million through Hines Global Income Trust, Connect CRE reported.
The multifamily portion is roughly 95% leased and the retail is 98% leased across 22 tenants, according to the outlet. The property is one of three assets Hines recently purchased through HGIT, and the report did not specify how the purchase price was divided.
The purchase is separate from the pivot toward building this publication reported in August, when Hines was moving toward development as new supply dried up. Laura Hines-Pierce is set to chair Hines Global Income Trust's board under a Jan. 1 leadership handoff.
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