Property sale student focused, underscores Southwestern financial turnaround, Dockery says

As the next step in Southwestern Baptist Theological Seminary’s long-term strategy to evaluate its property usage in keeping with its student-focused core value and to prioritize seminary resources, the seminary announced today that Student Village Apartments and Townhomes have been sold to Bellrock Real Estate Partners, a Fort Worth-based company.

“This transaction creates an opportunity to partner with Bellrock in ways that will enhance the residential experience for our students,” said David S. Dockery, president of Southwestern Seminary. “We are encouraged by Bellrock’s commitment to investing in the property and to working collaboratively to ensure it continues to serve the needs of the seminary community.”

Bellrock co-founder Anthony Wonderly emphasized the firm’s commitment to thoughtful ownership and continuity for residents.

“We understand the importance of this community to Southwestern Seminary and its students,” Wonderly said. “Our goal is to invest responsibly, improve the quality of life for residents, and position the property for long-term success while maintaining continuity for those who already call it home.”

The sale of Student Village represents a key component of Southwestern Seminary’s broader financial turnaround since 2022, Dockery said. The institution has implemented disciplined financial management, reduced operational expenses, and experienced growth in operating revenue, resulting in the elimination of all short-term and long-term debt and cash reserves in excess of $20 million.

Dockery also contrasted this transaction with the 2023 sale of seminary’s former B.H. Carroll Park housing complex.

While the Carroll Park sale helped address the seminary’s then “financial crisis,” he said the sale of Student Village “is an aspect of a longer-term strategy to serve students well and to prioritize the campus resources, all of which are an aspect of implementing the Space and Property Utilization guidelines and priorities approved by the Board in the fall of 2024.”

The Student Village community, located at 2000 W. Seminary Drive, includes a total of 376 residential units, consisting of 252 traditional apartment units constructed in 2012 and 124 townhomes built between 1976 and 1995. The mix of apartments and townhomes provides flexible housing options well suited to seminary students and their families.

In April 2023, the seminary’s Board of Trustees created a Space and Property Utilization task team composed of trustees and seminary personnel with a commitment to institutional stewardship and discovering the best way to utilize Southwestern’s campus, property, and assets in order to advance the seminary’s mission. In 2024, trustees approved guidelines and priorities for the task team. In the summer of 2025, the board authorized the sale of the property.

In recent months, seminary administrators have met three times with residents of Student Village to inform them of the prospective sale, Dockery noted.

“Every aspect of the decision-making process was always shaped with the theme of how to best serve our students,” he said. “We have worked hard to ensure a good transition for the students. We pray that current and future students will benefit in the new year and in the years ahead. Our priority all along in this process has been to find ways to strengthen this aspect of student life.”

Dockery also said that Bellrock has communicated plans to make a significant capital investment in the community following the acquisition with both short-term and long-term improvements. Planned improvements include interior unit upgrades, enhanced safety and security measures, refreshed landscaping, and the development of new or improved gathering spaces intended to foster community among residents.

The partnership with Bellrock, Dockery added, is structured as an ongoing relationship rather than a one-time transaction. The two organizations will continue to work together closely as improvements are implemented and as the community develops. The seminary will remain involved in key areas that affect student experience, including security and facilities coordination, helping to ensure continuity for staff and student workers who have long served the Village.

“We believe the Lord has provided a way for a strong and ongoing partnership so that the student village will continue to be a vital part of seminary life for many years to come,” Dockery added.

The transaction was brokered by Jason Harrell of Transwestern, representing the Southwestern Seminary.