Hines Pays $408M for Dallas, Atlanta Assets
The company's REIT entered Atlanta’s multifamily market with one of the metro’s largest deals of the year.
Hines Global Income Trust has closed on the acquisitions of 851 units in Dallas and Atlanta. The two separate deals totaled $408.3 million excluding transaction and closing costs, according to an SEC filing.
The $170.5 million Dallas purchase consists of the Bishop Arts Portfolio, a nine-building collection comprising 539 multifamily units and 49,000 square feet of retail space. The residential portion includes:
- Bishop North, a 246-unit building at 200 N. Bishop Ave.
- Bishop Canopy, a 141-unit property at 515 W. 10th St.
- Bishop Flats, a 118-unit community at 305-431 Melba St.
- Treehaus, a 34-unit building at 211 W. 10th St.
Exxir Capital previously owned the multifamily assets, according to Yardi Matrix data. Built between 2018 and 2025, the residential properties were 95 percent occupied at closing. The retail portion was 98 percent leased.
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The collection sits on nearly 7 acres inside Dallas’ Bishop Arts District, about 1 mile away from Interstate 35E, which connects to the central business district in approximately 3 miles. Within walking distance, another Bishop Arts District property changed hands last year. Stillwater Capital acquired the 55-unit 212 Melba from Mintwood Real Estate, the data provider shows.
The Metroplex’s multifamily transaction activity softened 14.3 percent year-over-year to $1.7 billion during 2026’s first half. Additionally, the number of traded units also contracted 8.9 percent to 10,817 apartments. In terms of units sold, Dallas clocked in second nationally, behind Chicago, while by sales volume the market ranked fifth.
The REIT’s Atlanta multifamily entry
HGIT’s Atlanta deal closed for $237.8 million, the same SEC filing shows. This marked one of the largest single-asset sales in the market year-to-date through September, according to Yardi Matrix data. JLB Partners sold the property, a 312-unit luxury community that came online in 2023, dubbed 99 West Paces. The purchase marked the REIT’s entry into Atlanta’s multifamily market.
The property features one- to three-bedroom layouts, including penthouse options, that average 1,196 square feet. Amenities comprise a wellness club and gym, a pet spa and coworking spaces, as well as a sky lounge. HGIT’s new Atlanta community was also 95 percent occupied at closing.
Located inside the Buckhead neighborhood, the building rises 13 stories, with several retail and dining destinations within walking distance. The submarket generated substantial investor interest, with other deals closing nearby this year, including Goldman Sachs’ $90.8 million acquisition of 92 West Paces, and UBS Realty’s purchase of SkyHouse Buckhead for $83.4 million.
Atlanta’s investment scene mirrored Dallas’ with declines across the board. The volume shrank 12.7 percent year-over-year to $1.8 billion during the first six months of 2026. Fewer apartments also changed hands, as the figure ticked down 14.2 percent to 9,696 units.
