As the company enters the next stage of its
growth journey, the new fund enables increased agility to
capitalize on opportunities that will deliver dependable,
market-leading returns.
Marking the first investment of the new
fund, Knightvest has acquired the Encore Apartments in
Plano, Texas
DALLAS, July 1, 2024
/PRNewswire/ -- Knightvest Capital, a vertically integrated
multifamily investment firm, announced the acquisition of the
Encore Apartments, located in the Legacy area of Plano in North
Texas. The Encore Apartments represents the inaugural
investment of Knightvest Capital's second fund.
The Encore is a three-story, 240-unit community of one- and
two-bedroom apartment homes constructed in 2013. The property also
boasts a resort-style pool and fitness center. Knightvest plans to
transform the community by renovating the unit interiors,
modernizing the property amenities, and adding a resident lounge to
further support the live-work-play environment for residents.
The community is located in the fast-growing market of
North Plano, in an area known for
its concentration of high-wage jobs, exemplary school district, and
leading entertainment venues. As Knightvest completes the luxury
renovations, the community will provide a high-quality, affordable
housing alternative to new construction in the area.
"We've been greatly encouraged by investor interest in our new
fund given our differentiated capabilities and strong track record
of results," said Knightvest Founder and CEO David Moore. "As the first investment of our new
fund, this acquisition represents an important milestone, and it's
a perfect fit for our proven playbook given the value-add
opportunity in one of the best markets in the nation."
About Knightvest Capital
Knightvest is an industry-leading multifamily investment and
management firm known for creating communities of excellence and
delivering dependable results that enable investors, employees, and
residents to thrive.
As a vertically integrated firm, Knightvest specializes in
renovating and repositioning multifamily properties. Its unique
approach is focused on setting a new standard in design-driven
quality, executing with operational efficiency, and leading with a
people-first culture.
Since its founding in 2007, Knightvest has invested over
$10 billion to acquire over 60,000
units across high-growth metro areas in Texas, Arizona, the Carolinas, and Florida to become one of the largest apartment
owners in the United States.
For more information, please
visit Knightvestcapital.com and follow us
on LinkedIn.
Contact:
Stephen@ArvoPR.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/knightvest-capital-acquires-multifamily-community-in-north-texas-marking-the-first-investment-of-its-new-fund-302186445.html
SOURCE Knightvest Capital