Knightvest Capital acquires Cypress Apartments in McKinney to enhance Texas portfolio
Knightvest Capital, a leading multifamily investment company, has marked the beginning of 2024 with its first acquisition of the year, securing the Cypress Apartments in McKinney, Texas. This move underscores Knightvest’s strategic expansion within the North Texas region, further bolstering its extensive portfolio, which now encompasses over 34,000 units nationwide.
The acquisition of the Cypress Apartments, a garden-style community built in 2007, aligns with Knightvest Capital’s commitment to growing its footprint in the Dallas-Fort Worth area’s rapidly expanding suburbs. McKinney, recognized as the Best Place to Live in America by Money Magazine, offers a prime location for Knightvest’s latest investment, enhancing the firm’s already robust presence in the market.
Cypress Apartments features a mix of two and three-bedroom floorplans, making up eighty-four percent of its offerings, alongside desirable amenities such as a resort-style pool, fitness center, and media lounge. Knightvest Capital plans to undertake comprehensive enhancements to the property and modernize unit interiors, aiming to set a new benchmark for quality living in McKinney. These upgrades are designed to offer residents a superior alternative to new constructions in the area, combining affordability with high-quality housing.
Knightvest Capital Acquires Cypress Apartments in McKinney, Texas. Photo courtesy of PRNewswire/Knightvest Capital.
David Moore, Founder and CEO of Knightvest, emphasized the company’s strategic positioning and enthusiasm for the acquisition, stating, “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. 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.”
As a vertically integrated firm, Knightvest Capital excels in the renovation and repositioning of multifamily properties. Their distinct approach focuses on delivering design-driven quality, operational efficiency, and a people-first culture. This strategy has enabled Knightvest to become one of the largest apartment owners in the United States, with a portfolio exceeding 55,000 units and an investment total of over $10 billion across high-growth metropolitan areas in Texas, Arizona, the Carolinas, and Florida since its inception in 2007.