Hines Acquired Bishop Arts District Portfolio
The $171 million deal includes 539 apartments and nearly 50,000 square feet of retail in the Bishop Arts District.
Updated on Oct. 7, 2026 in Commercial
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Investment firm Hines has purchased a nine-building property portfolio in Dallas's Bishop Arts District from Exxir Capital for $171 million. The acquisition adds 539 apartment units and 49,000 square feet of retail space to the firm's local holdings.
Why it matters
This acquisition represents a significant expansion of institutional ownership within the neighborhood, impacting future rental management and retail operations for local residents. The deal adds to the $1.4 billion in assets already managed by Hines across the Dallas area.
The seven-acre portfolio consists of nine buildings reaching a total of 539 apartment units and 49,000 square feet of retail space. Currently, the residential portion is 95 percent leased, while the retail space maintains a 98 percent occupancy rate.
The players
Hines
A global real estate investment firm that develops, manages, and invests in commercial and residential properties with a significant existing presence in the Dallas market.
Exxir Capital
A real estate development and investment company that previously owned the portfolio of buildings within the Bishop Arts District.
The details
The transaction involved the purchase of the properties by Hines from an entity operated by Exxir Capital. Following the acquisition, Hines Living will oversee the management of all 539 residential units. Meanwhile, the parent company, Hines, will take over the oversight of the existing retail tenants across the district-based footprint.
Timeline
October 6, 2026: The acquisition details were disclosed in an SEC filing.
The Home Front
This deal underscores the ongoing institutional investment trend in Dallas multifamily real estate as larger firms consolidate ownership of mixed-use districts. It follows a period of rapid development and high demand for residential space in urban, walkable neighborhoods.
Residents of these apartments should look for incoming communications regarding any changes to property management contact information or portal logins for rent payments. If you are a local tenant, review your current lease agreement to understand how changes in ownership may impact your rights or maintenance request procedures.
The takeaway
Large-scale acquisitions by institutional investors can lead to transitions in how apartment communities are managed and how retail areas are curated. Tenants should prioritize saving all communication from their new management team and verifying that existing rent-payment records remain accurate.
Further reading
For more on the changing landscape of local property ownership, visit Commercial.
Live Poll
Do you believe large corporate acquisitions of local apartment complexes harm your community's housing affordability?
