JLL Capital Markets arranged the sale of the Bishop Arts retail and multifamily portfolio, a curated collection of four Class-A multifamily properties and 40,747 square feet of premier retail along North Bishop Ave. in Dallas’ Bishop Arts District.
JLL represented the seller and developer, Exxir, owned by the Nazerian family, in the sale of the portfolio to Hines.
The portfolio represents one of only a handful of institutional-scale mixed-use transactions completed in Texas in recent years, offering a rare combination of newly developed multifamily housing and highly curated street retail within one of Dallas’ most dynamic urban neighborhoods.
The Bishop Arts Portfolio is positioned in the heart of the Bishop Arts District, which is anchored by independent restaurants, local bars and carefully curated retail. The walkable district features a historic streetscape offering a year-round calendar of events, drawing consistent crowds and neighborhood energy. The district is also within a few miles of North Texas’ most significant employment centers, including Uptown and Downtown Dallas and is convenient to Interstates 35 and 30, providing access to the greater Dallas-Fort Worth Metroplex
The retail component of the portfolio occupies 1.07 acres at 205, 250, 275 and 308 North Bishop Ave. The buildings were built in 2018 and 2019 and are 98.2% leased to tenants, including La Reunion, Century 21, Paradiso, Lucia, Jungle and Alice in Ivory.
The multifamily component consists of Bishop North (200 N Bishop Ave.), Bishop Canopy (515 W. 10th St.), Bishop Flats (305 Melba St.) and Treehaus (211 W. 10th St.). With an average vintage of 2021 and a total of 539 units, the communities offer luxury amenities, including resort-style pools, fully-equipped fitness centers, co-working spaces, courtyards and private green space/dog parks for residents. Overall, the multifamily portfolio is 94% leased.
JLL’s Capital Markets team representing the seller was led by Debt Platform Leader and Executive Managing Director Trey Morsbach, Senior Managing Directors Bill Miller, Greg Toro and Adam Howells, Managing Director Clint Coe and Directors Director Caroline Novak and Erin Lazarus.
