Knightvest Capital Acquires Houston Multifamily Community and Reaches 35,000 Units Actively Owned

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Mar 20, 2024, 09:47 ET

Knightvest has acquired the Discovery at Shadow Creek Ranch and plans to renovate the garden-style complex to provide high-quality housing in the rapidly growing market.

DALLAS, March 20, 2024 /PRNewswire/ -- Knightvest Capital, a vertically-integrated multifamily investment company, announced today the successful acquisition of the apartment community Discovery at Shadow Creek Ranch in the growing Houston suburb of Pearland, Texas. With this acquisition, Knightvest now owns an active portfolio of over 35,000 units, firmly establishing itself as one of the largest apartment owners in the United States.

Knightvest Capital acquires the Discovery at Shadow Creek Ranch apartment community.

Originally built in 2010, the 347-unit apartment community features spacious garden-style buildings. Knightvest plans to renovate and reposition the property by updating unit interiors with contemporary finishes to meet the demands of modern residents. Additionally, Knightvest plans to enhance the property's amenities, including an expansion and renovation of the fitness center, pool, and clubhouse. As part of the modernization efforts, Knightvest will rename the community to Barron Park.

"Over the last decade, we've quietly grown to become one of the largest multifamily owners in the country by delivering dependable results driven by our consistent ability to identify underperforming properties and transform them into modern communities that compete with new construction," said David Moore, Knightvest Founder and CEO. "Once again, our talented team has identified a compelling opportunity with the Barron Park community with the purchase price significantly below the replacement cost."

The Houston suburb of Pearland, Texas, faces a limited supply of high-quality multifamily housing options and no remaining multifamily sites available to develop. At the same time, it's experiencing growing demand given its proximity to the world's largest medical center with $5 billion in new development underway at the Texas Medical Center. The growing area boasts top-tier school districts, strong proximity to major employers, and a robust economy.

Knightvest Capital closed on the acquisition March 15, 2024.

About Knightvest

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.

For more information, please visit www.KnightvestCapital.com and follow us on LinkedIn.

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SOURCE Knightvest Capital