October 20, 2023
DALLAS – Transwestern Real Estate Services (TRS) announces the sale of Bellrock Bishop Arts, a 207-unit multifamily community at 1836 W. Davis St. in Dallas. The two-building property was 95% occupied at the time of the sale. Transwestern’s Tyler Gauntt, Rye Hinkle, Chris Stutzman and Bryan McMurrey represented the buyer, The Paskin Group, in the 1031 exchange.
“Our team has a strong track record of assisting 1031 buyers in identifying suitable properties to meet their exchange requirements," said Gauntt. “We appreciated the opportunity to represent The Paskin Group in this transaction.”
Built in 2012, Bellrock Bishop Arts features a 24-hour fitness center, dog park, resort-style pool with cabanas and grills, outdoor fireplace, modern clubhouse, and social lounge. The property is located within walking distance of the coveted Bishop Arts District, home to over 60 independent boutiques, restaurants, bars, coffee shops and art galleries.
The Paskin Group recently sold an older project in Austin, igniting the search for a property to satisfy the exchange. Transwestern’s Central Texas Multifamily Group was among a variety of brokerages in the running to meet Paskin’s needs.
About Transwestern Real Estate Services
Part of the Transwestern companies, Transwestern Real Estate Services (TRS) strives to add value for investors, owners and occupiers across all commercial property types. Fueled by a holistic perspective of the real estate life cycle, agility and creativity are hallmarks of our approach, while vast national resources and sound market intelligence underpin customized recommendations and property solutions.
Five dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Clients and investors rely on us for expertise that spans institutional and opportunistic investment, development, hospitality, and brokerage and asset services. Our award-winning, collaborative culture empowers team members with resources and independence to work across boundaries in pursuit of innovative solutions, reinforcing a reputation for service excellence that translates to measurable results. Through offices nationwide and alliance partners around the globe, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at transwestern.com and @Transwestern.
Media Contact:
Montgomery Angel
346.232.8625
Montgomery.angel@transwestern.com
twmediarelations@transwestern.com
