Knightvest Capital Expands Multifamily Portfolio in Houston, TX with Latest Acquisition

DALLAS--(BUSINESS WIRE)--Oct 9, 2024--

Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of San Cierra Apartments located in the rapidly growing Northwest Houston submarket. The strategic acquisition coincides with the first close of Knightvest’s Fund II, which remains open to new investors through mid-2025 as the company aims to capitalize on discounted opportunities within the multifamily sector. The San Cierra acquisition marks the second asset acquired in the fund, with the third acquisition scheduled for later October.

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San Cierra, acquired by Knightvest Capital (Photo: Business Wire)

Originally constructed in 2008 by renowned Houston developer SUEBA, the 362-unit, townhome-style community features spacious floor plans averaging over 1,300 square feet and a neighborhood-like atmosphere spread across 25 acres. Knightvest plans to enhance the property by upgrading amenities and completing interior renovations that will be of comparable quality and design to new construction. The firm also plans to capitalize on the community’s sizeable green space by adding private yards to elevate the resident living experience. The property’s proximity to retail centers, such as Vintage Park Shopping Village, further enhances its appeal as a premier living destination.

“Our goal with Knightvest Fund II is to deliver superior returns by doing what we do best: transforming multifamily communities from the mid-2000s so they can compete with new construction in high-growth markets,” said David Moore, Knightvest founder and CEO. “This acquisition aligns perfectly with our strategy. With a purchase price significantly below replacement cost, we’re thrilled to bring the San Cierra community into our growing portfolio.”

Houston continues to experience rapid growth, particularly in its western and northwestern submarkets, where the San Cierra community is located. Following Knightvest’s planned renovations, the enhanced amenities and modernized interiors will position the community as a top-tier living destination in the area.

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.

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KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY URBAN PLANNING BUILDING SYSTEMS REIT

SOURCE: Knightvest Capital

PUB: 10/09/2024 09:03 AM/DISC: 10/09/2024 09:04 AM

http://www.businesswire.com/news/home/20241009929896/en