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- Knightvest Capital Acquires San Cierra Apartments in NW Houston
Knightvest Capital Acquires San Cierra Apartments in NW Houston
Slice of Real Estate Team
October 10, 2024
Key Highlights:
Knightvest Capital acquires San Cierra Apartments in Northwest Houston.
Second acquisition in Knightvest Fund II, with the third expected in October.
San Cierra community offers 362 townhome-style units built by SUEBA in 2008.
Planned property upgrades include modernized amenities and private yards.
Fund II remains open to new investors through mid-2025 for discounted multifamily opportunities.
Source: Business Wire
Notable Quote:
“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. With a purchase price significantly below replacement cost, we’re thrilled to bring the San Cierra community into our growing portfolio.”
Our Take:
Knightvest Capital's acquisition of the San Cierra Apartments signals a strategic move to leverage the opportunities within Houston’s booming multifamily market. The addition of San Cierra to Knightvest Fund II demonstrates the firm's focus on acquiring assets with significant upside potential at a discount to replacement costs. By modernizing older communities like San Cierra, Knightvest positions itself to offer competitive living environments that match new developments in rapidly growing submarkets. This approach not only enhances tenant experiences but also aligns with the firm’s vision to deliver superior returns for investors through strategic, value-add investments.