DALLAS, TX - Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of Arlo Buffalo Heights apartments in Houston, Texas. The transaction marks the tenth acquisition in Knightvest's Fund II and further solidifies the firm's footprint in the Neartown-River Oaks submarket, where Knightvest owns and operates multiple communities.
Originally built in 2014, the 318-unit wrap-style community is well positioned in one of Houston's most desirable urban submarkets and is walkable to some of the city's most popular restaurants and entertainment venues. Knightvest will implement a comprehensive renovation program to elevate the property to a level that competes with newer construction in the area. Planned improvements include full unit interior upgrades, a relocated leasing center, and extensive amenity enhancements. As part of the renovation efforts, Knightvest has renamed the community to Whitmore.
"With this acquisition, we're continuing to expand a focused portfolio of well-located assets that are roughly 10 to 20 years old across major Sun Belt markets," said David Moore, Knightvest founder and CEO. "Our proven experience in the Neartown-River Oaks submarket provides a strong foundation for executing the business plan at Whitmore, and it reflects the kind of opportunity we're targeting as we continue to execute our strategy for Fund II."
Houston remains one of the country's fastest-growing cities, and this momentum will continue to fuel demand for high-quality housing at a discount to new construction in desirable locations like that of the Neartown-River Oaks area.
Source: Knightvest Capital