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Paskin Group Picks 207-Unit Dallas Rental Community
Bellrock Real Estate Partners sold the 207-unit Bellrock Bishop Arts apartment to the Paskin Group, who acquired it through a 1031 exchange. A Transwestern team led by Bryan McMurrey represented the buyer.
According to Yardi Matrix, Paskin Group assumed the outstanding balance on a $24.8 million CMBS loan, which was originated by Newmark in 2020 and provided by Wells Fargo Bank.
The Oak Cliff Advocate reported that although the value of the transaction was not made public, the community is taxed at a $38 million value. The same source shows that the 2012-completed property was 95 percent occupied at the time of the sale.
The two buildings encompass studio, one- and two-bedroom floorplans, ranging between 563 and 1,214 square feet. Common-area amenities of the 4.9-acre property include a fitness center, swimming pool with cabanas, fireplace, dog park, clubhouse, business center, and more than 260 parking spaces.
- ◦Sale/Acquisition
