Knightvest will enhance unit interiors and community amenities at the Dorian Apartments, a 398-unit North Plano complex
The acquisition marks one of the last investments of Knightvest Capital’s initial fund as the Company continues its strong growth trajectory with the upcoming launch of Fund II.
DALLAS, Jan. 17, 2024 /PRNewswire/ — Knightvest Capital, a vertically-integrated multifamily investment company, announced the successful acquisition of the Dorian Apartments, formerly known as the Tribeca Apartments. Situated in the coveted Legacy area of DFW, this 398-unit apartment community marks the latest strategic addition to the Knightvest portfolio.
The Dorian Apartment community was built in 2008 and features a mix of three and four-story structures across nine buildings, with units boasting an average of 910 square feet.
“With its strategic location, the Dorian Apartments fit seamlessly into our vision of acquiring institutional quality assets and transforming them into design-driven residential communities,” said David Moore, Knightvest Founder and CEO. “Our team is excited by this latest acquisition as we work to provide a high-quality alternative to new construction in this sought-after market.”
The community’s corridor spans Plano, Frisco, McKinney, and Allen – cities experiencing an average population growth of over 50% in recent years. With Plano’s growth accompanied by the development of over 14.8 million square feet of Class A office space, the area has become a thriving live-work-play community.
Knightvest Capital closed the acquisition in December 2023 and plans to enhance the property by renovating unit interiors and property amenities, including the fitness center, pool area, and clubhouse.
“Our acquisition of the Dorian Apartments is another great example of how we’re executing our value-add strategy to deliver dependable results to investors, residents, and employees,” concluded David Moore.
The acquisition of the Dorian Apartments is one of the last investments from the first Knightvest Capital fund, Knightvest Fund I LP. With a proven track record and strong growth trajectory, Knightvest Capital recently began the process of raising its second fund, Knightvest Fund II LP.
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 with a unique approach 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 55,000 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.
SOURCE Knightvest Capital
Originally published at https://www.prnewswire.com/news-releases/knightvest-capital-acquires-residential-community-in-north-texas-302036414.html
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