News Summary
Knightvest Capital has acquired the Arlo Buffalo Heights, now rebranded as Whitmore, marking its tenth investment in Fund II. The multifamily property, with 318 units, is set for significant renovations to enhance its appeal. As Houston experiences rapid growth, Knightvest aims to revitalize older apartment communities, positioning itself as a leader in the multifamily real estate sector with over $10 billion invested since its founding in 2007.
Houston – Knightvest Capital, a multifamily investment firm, has successfully acquired the Arlo Buffalo Heights apartments in Houston, Texas. This strategic acquisition marks the tenth investment in Knightvest’s Fund II and reinforces the company’s expanding footprint in the Houston market, being its second investment in the area.
The property, now rebranded as Whitmore, boasts 318 units within a wrap-style community that was originally constructed in 2014. Situated in a vibrant urban submarket, Whitmore offers residents convenient access to an array of popular restaurants and entertainment options within walking distance.
To elevate the appeal of Whitmore and compete effectively with newer residential developments in the vicinity, Knightvest plans to initiate a comprehensive renovation program. This ambitious project will involve significant upgrades across multiple facets of the property, including full interior upgrades for every unit, relocation of the leasing center, and substantial enhancements to the available amenities.
David Moore, the founder and CEO of Knightvest, emphasized that this acquisition fits perfectly within the company’s strategic vision of building a concentrated portfolio comprising well-located assets that are approximately 10 to 20 years old. This approach particularly highlights the importance of investing in major Sun Belt markets, where residential demand continues to rise.
Houston has garnered attention as one of the fastest-growing cities in the United States, a trend that is expected to bolster the need for high-quality housing in prime locations. Knightvest’s move to acquire Whitmore aligns with the ongoing growth of the region and reflects the company’s dedication to revitalizing older apartment communities in core areas.
Since its inception in 2007, Knightvest has made noteworthy strides in the multifamily real estate sector, investing over $10 billion to acquire more than 60,000 units across rapidly developing metro regions in Texas, Arizona, the Carolinas, and Florida. The firm has positioned itself as a leader in renovating and repositioning multifamily properties, with a clear goal of establishing a new benchmark in design-driven quality.
The renovations planned for Whitmore, coupled with its new identity, are integral to Knightvest’s strategy to implement its business plan effectively. As the company continues to expand its portfolio, the focus remains on enhancing community living standards and meeting the evolving needs of current and prospective residents.
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Additional Resources
- PR Newswire: Knightvest Capital Expands Houston Footprint
- Wikipedia: Houston
- Multi Housing News: Knightvest Buys Houston Community
- Google Search: Knightvest Capital Houston
- Business Wire: Knightvest Capital Expands Multifamily Portfolio
- Encyclopedia Britannica: Multifamily Housing
- CoStar: Knightvest Capital Bet on Houston Acquisition
- Google News: Knightvest Capital
Author: STAFF HERE HOUSTON TX WRITER
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