December 9, 2023
DALLAS – A $38 million North Oak Cliff rental community has changed hands as part of a 1031 tax-free exchange.
The Bellrock Bishop Arts apartments at 1836 West Davis St. has 207 units across two buildings, a fitness center, dog park, resort-style pool, and a clubhouse. It is 95 percent occupied.
Wood Partners developed the community in 2012, and Bellrock Real Estate Partners has owned it since 2020.
Transwestern arranged the sale for the buyer, California-based Paskin Group.
For more on 1031 (or like-kind) exchanges, read “Trading Spaces: Common Mistakes in a Like-Kind Exchange” and “Diving Deeper into Like-Kind Exchanges.”