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Hines buys Dallas' Bishop Arts mixed-use portfolio for $170.5M

The nine-building purchase, made through its Hines Global Income Trust REIT, includes 539 multifamily units and about 49,000 square feet of retail space.

Reported · Written up by our desk · REITs

Houston-based Hines acquired a mixed-use portfolio in Dallas' Bishop Arts district through its Hines Global Income Trust REIT, according to a Bisnow report based on an Aug. 31 filing with the U.S. Securities and Exchange Commission.

The REIT paid $170.5 million for the roughly 7-acre, nine-building portfolio, which includes 539 multifamily units and about 49,000 square feet of retail space.

Bisnow reported that the portfolio includes the 246-unit Bishop North, the 141-unit Bishop Canopy, the 34-unit Treehaus, and the 118-unit Bishop Flats, with the deal part of a nationwide purchase series exceeding $525 million.

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