Knightvest Capital Continues North Texas Expansion with Cypress Apartments Acquisition

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Feb 15, 2024, 10:48 ET

Knightvest will renovate the 276-unit garden-style community in high-growth McKinney, Texas

DALLAS, Feb. 15, 2024 /PRNewswire/ -- Knightvest Capital, a vertically-integrated multifamily investment company, announced today the acquisition of the Cypress Apartments in McKinney, Texas, a fast-growing suburb of the Dallas-Fort Worth area. This represents Knightvest Capital's first closed acquisition of 2024, as the Company continues to expand its presence in North Texas and add to its portfolio of over 34,000 units across the United States.

Knightvest Capital Acquires Cypress Apartments in McKinney, Texas

Built in 2007, Cypress Apartments is a three-story garden-style community where eighty-four percent of the floorplans contain two or three bedrooms. The community offers sought-after amenities, including a resort-style pool, fitness center, and media lounge. Knightvest plans to complete comprehensive property enhancements and modernize unit interiors to offer a high-quality alternative to new construction in the area.

"Knightvest continues to be well-positioned in this environment, and we're thrilled to hit the ground running in 2024 with the Cypress acquisition that complements our expanding portfolio and supports our proven strategy to transform apartment communities," said David Moore, Knightvest Founder and CEO. "Modern renters seek high-quality housing at affordable prices, and we efficiently renovate properties in a way that delivers a better quality of life for our residents and exceptional returns for our investors."

Knightvest Capital has a strong track record of successful acquisitions in the McKinney market, and the Cypress Apartments occupy a prime location in the fast-growing city, which has been ranked as the Best Place to Live in America by Money Magazine.

Knightvest Capital closed on the acquisition in January 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 https://knightvestcapital.com/ and follow us on LinkedIn.

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SOURCE Knightvest Capital