DALLAS, TX, December 10, 2010 (Press-News.org) Knightvest Capital, a growing real estate investment firm targeting distressed multi-family properties in Texas, today announced the acquisition of a 370-unit multi-family property in north Dallas.
The property, known as Copper Creek Apartments, is located in close proximity to the corner of Interstates 75 and 635. The investment firm acquired the property out of foreclosure and are planning significant renovations.
"We were able to acquire Copper Creek "off market" at a reasonable discount due to the depressed financial markets and lack of refinance options by the previous owner," stated David Moore, President of Knightvest Capital. "The discounted purchase price will enable us to invest the necessary capital to improve the property while offering a market leading product at competitive rental rates."
This is the fifth multifamily acquisition by Knightvest Capital in 14 months, bringing their total unit count to over 1,300. NorthMarq Capital arranged the life company financing and Joshua Partners was the lead investor.
About Knightvest Capital
Knightvest Capital specializes in repositioning distressed multifamily investments in Dallas, Texas. Through professional property and asset management, and a high level of integrity, Knightvest Capital increases the value of properties while improving quality of life for its residents. Knightvest Capital derives stakeholder value through hands on property management and partnerships with local community organizations. Knightvest Capital combines an entrepreneurial approach, professional property management and institutional quality reporting. www.knightvest.com
For more information, please contact:
David Moore - dmoore@knightvest.com
KC Kronbach - kck@knightvest.com
370 Unit "Off Market" Multi-Family Acquisition
Knightvest Capital completes off-market multifamily acquisition in Dallas, TX. Growing real estate investment firm identifies value in the distressed multi-family market.
2010-12-10
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[Press-News.org] 370 Unit "Off Market" Multi-Family AcquisitionKnightvest Capital completes off-market multifamily acquisition in Dallas, TX. Growing real estate investment firm identifies value in the distressed multi-family market.