Hines Acquires Dallas Bishop Arts Retail and Multifamily Portfolio From Exxir in JLL-Brokered Sale
DALLAS — JLL Capital Markets announced Oct. 15 that it arranged the sale of the Bishop Arts retail and multifamily portfolio in Dallas' Bishop Arts District to Hines. JLL represented the seller and developer, Exxir, the family-owned company led by CEO Michael Nazerian. The purchase price was approximately $170.5 million, and the transaction closed Sept. 30, 2026.
The portfolio comprises four Class A multifamily properties totaling 539 units and 40,747 square feet of retail along North Bishop Ave. The buyer is Hines Global Income Trust, sponsored by Hines. JLL said the sale represents the largest mixed-use sale over 1 million square feet in Texas in 2026.
Deal Details: Hines Buys Exxir's Bishop Arts Portfolio
JLL said the sale encompassed all Class A product built to date by Exxir in the core of the Bishop Arts District. The assets span four acres along North Bishop Ave. and were developed in-house by Exxir's vertically integrated team. At the reported price, the transaction works out to roughly $316,000 per multifamily unit before accounting for the retail component.
JLL described the portfolio as one of only a handful of institutional-scale mixed-use transactions completed in Texas in recent years, combining newly developed multifamily housing with street retail. Other transaction coverage describes a broader nine-building package spanning nearly seven acres, with approximately 49,000 square feet of retail. The JLL figures describe the announced portfolio.
Multifamily and Retail Assets in the Portfolio
The multifamily component consists of four communities with an average vintage of 2021:
- Bishop North, 200 N. Bishop Ave. — 246 units
- Bishop Canopy, 515 W. 10th St. — 141 units
- Bishop Flats, 305 Melba St. — 118 units
- Treehaus, 211 W. 10th St. — 34 units
The communities offer resort-style pools, fully equipped fitness centers, co-working spaces, courtyards and private green space and dog parks, according to JLL. The multifamily portfolio is 94% leased.
The retail component 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. Tenants include La Reunion, Century 21, Paradiso, Lucia, Jungle and Alice in Ivory.
JLL Capital Markets Team and Exxir
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 Caroline Novak and Erin Lazarus.
Exxir is a Dallas-based, family-owned real estate development and hospitality firm with a vertically integrated platform spanning development, hospitality, architecture and design, construction, events and activation, and property management. The company has more than 300 employees.
Bishop Arts District Location and Market Context
The Bishop Arts District is anchored by independent restaurants, local bars and curated retail. The walkable district has a historic streetscape and a year-round calendar of events. It is within a few miles of Uptown and Downtown Dallas and is convenient to Interstates 35 and 30, providing access to the broader Dallas-Fort Worth Metroplex.
For Hines, the acquisition adds concentrated exposure to recently built multifamily product and street-level retail in a single urban district, combining apartment rents with retail leases.
Sources
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