Dunhill Partners has just unloaded its third Design District property of 2022, with a sale to Dallas-based BV Capital.
BV Capital has purchased the Dunhill Apartments in the city’s Design District, according to the Dallas Morning News. The purchase was financed with a $39.5 million loan, according to county records.
Dunhill has been selling properties since its founder Bill Hutchinson was charged with sexual assault in Texas and California, the newspaper reported.
Built in 2018, the 200-unit apartment complex at 1900 Hi Line Drive offers rental units ranging from $1,400 to $2,300 per month. Until now, the 4-acre property was owned by an investment partnership led by Dunhill Partners of Dallas. The company was behind much of the development and renovation of the Design District, including the Virgin Hotels Dallas, which was launched through a partnership between Hutchinson and Richard Branson.
In the summer of 2021, Hutchinson was accused of sexually assaulting a teenage girl at his Laguna Beach home. The 63-year-old Dallas-area developer, once featured on the reality show ‘Marrying Millions’ with his then 23-year-old wife, is currently facing one count of rape of an unconscious person and five counts offense of non-consensual touching. in the state of California. About a month before the charges were filed, Hutchinson resigned as chairman of Dunhill, saying it was a move he had considered for several years. He also sold several of his personal properties, as well as his investment in the Dallas Design District, according to DMN.
Months later, Hutchinson would face a civil lawsuit in Texas for sexual misconduct by a woman who alleges the two met while having drinks at his Dallas Virgin Hotel in the Design District and sexually assaulted her. . Hutchinson’s attorney, Levi McCathern, called the Texas suit’s allegations “total malarkey…solely to extract money from Bill Hutchinson.”
Representatives for Dunhill Apartments and Dunhill Partners did not respond to requests for comment from the Dallas newspaper. Virgin Hotels spokeswoman Ana Lanzas said in a written statement that the company takes the allegations “extremely seriously” and that Hutchinson is no longer involved in “any active capacity” with Virgin Hotels Dallas.
Since the allegations against Hutchinson came to light, the commercial real estate company has unloaded its properties from the Design District. Two of them, the Dallas Decorative Center on Hi Line Drive and the Dallas Design Center on Stemmons Freeway, were sold in February to Dallas-based HN Capital and New York-based McCourt Partners. The two properties, which Dunhill had owned since 2014, total more than 800,000 square feet of showroom, restaurant and retail space and are home to more than 100 tenants.