The biggest property owner in Dallas’ busy Design District has acquired more real estate.
Dunhill Partners has purchased the Bell Design District apartments on Hi Line Drive at Turtle Creek Boulevard.
Built in 2010, the urban-style renal community has 214 units.
Dunhill bought the building from real estate investment trust Bell Partners, which bought the property in 2012.
Dunhill is a partner in the team that’s building the Virgin Hotel under construction across the street.
“Dunhill Partners has been strategically expanding our foot print in the area and we felt that this property was in a very important location,” said Dunhill CEO Bill Hutchinson. “Several improvements are being planned for the property including exterior lighting, signage and art.
“We have hired Lincoln Property Co. to take over the management of the apartments.”
The rental project has been renamed The Dunhill.
Hutchinson heads an investment group that in 2014 bought the lion’s share of the Design District.
Since then Hutchinson and his partners have worked on plans for new developments in the area northwest of downtown Dallas while marketing existing buildings to design showroom and creative firms.
“Dunhill Partners is primarily a shopping center company, with over 30 major shopping centers in our portfolio from Texas to Hawaii,” Hutchinson said. “The addition of the Bell Design District to our ownership foot print shows how important the Dallas Design District is to our company as we continue to transform the area into one of Dallas coolest districts.”
Along with the Virgin Hotel, Dunhill is also working on plans for an office building in the Design District on Stemmons Freeway plus a high-rise residential tower.
The former commercial district between the Trinity River and Stemmons has seen a redevelopment boom in the last decade with new apartments, eateries and creative business moves.
The apartments built in 2010 are being renamed The Dunhill.