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1836 West Davis Street

The Paskin Group Acquires Bellrock Bishop Arts Multifamily In Dallas
SOLDMultiFamily

The Paskin Group Acquires Bellrock Bishop Arts Multifamily In Dallas

1836 West Davis Street

Building Size

Asset Type

MultiFamily

Closing

Oct 24, 2023

AI

The Paskin Group has acquired the 207-unit Bellrock Bishop Arts community in Dallas. The property, located at 1836 West Davis Street, is situated on 4.9 acres of land. It consists of studio, one- and two-bedroom units, offering a variety of living options. The community is conveniently located near the Bishop Arts District and boasts various amenities.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Number of Units: 207
  • Total Acres: 4.9
  • Market: Dallas

The acquisition was facilitated through a 1031 exchange, with Transwestern Real Estate Services acting as the representative for the buyer, The Paskin Group. They worked alongside brokers Bryan McMurrey, Chris Stutzman, Rye Hinkle, and Tyler Gauntt from Transwestern to complete the transaction.

Players

Bryan McMurrey

Transwestern

Broker

2 deals

Broker

Michael Paskin

Buyer

$29M

vol

2 deals

Buyer
Jarrad Principe

Jarrad Principe

Bellrock Real Estate Partners

Seller

2 deals

Seller

Dallas MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93