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The Bellrock Bishop Arts apartment complex is trading hands, Dallas Morning News reporter Steve Brown announced Thursday.
Located at 1836 W. Davis St., the 207-unit apartment complex was purchased by California-based Paskin Group. The firm appears to be the third owners of the complex since it was built in 2012. Wood Partners developed the complex, and Bellrock Real Estate Partners have took it on in 2020.
The Morning News reports the complex was 95% occupied at the time of the sale, and the terms of the transaction has not been made public. The apartments are taxed at a $38 million value.
The purchase was part of a 1031 tax-free exchange, Brown reports, meaning Bellrock Real Estate Partners and the Paskin Group mutually agreed to trade properties in order to defer capital taxes.
The Paskin Group appears to have several other properties in the DFW metroplex, including in Dallas, Fort Worth and Arlington.
