DALLAS, TX - Knightvest Capital, a vertically integrated multifamily investment firm, today announced the acquisition of the apartment community Verandas at Cityview in Fort Worth, Texas. This successful close marks the fourth acquisition in Knightvest's Fund II and its first asset in the Fort Worth market.
Built in 2002, the 314-unit garden style community is located in the thriving Benbrook submarket of South Fort Worth, an area where Knightvest has extensive experience. Knightvest has successfully upgraded and operated three other properties within a two-mile radius and plans to leverage this experience to seamlessly integrate Verandas at Cityview into its portfolio. Knightvest will fully renovate the majority of the units, upgrading them with modern finishes that are comparable to newer construction in the area. The community's amenities will also be enhanced, including the addition of a fully renovated fitness center, upgrades to the pool area, and dog park. As part of the modernization efforts, Knightvest will rename the community to Lauren.
"This acquisition represents an exciting opportunity for us to revitalize a well-built community in a dynamic Fort Worth market where we have a strong track record with nearby properties," said David Moore, Knightvest founder and CEO. "Marking the fourth acquisition in Fund II announced earlier this year, I'm proud of how our team continues to deliver dependable results, and I'm increasingly optimistic about 2025.
Fort Worth continues to be one of the fastest-growing major cities in Texas, with the Dallas-Fort Worth metro adding over 100,000 new residents in 2023. Knightvest is confident in the region's long-term potential, particularly in Benbrook, where demand for affordable high-quality housing remains strong. Lauren exemplifies Knightvest Fund II's mission to invest in well-located multifamily properties approximately 20 years old and modernize them to compete with newer construction in markets like Texas, Phoenix, and the Carolinas.
This acquisition comes shortly after the recent publication of the Knightvest Renter Sentiment Report that highlights the growing trend toward long-term renting.
About Knightvest Capital: Knightvest is an industry-leading multifamily investment and management firm known for creating communities of excellence and delivering dependable results that enable investors, employees, and residents to thrive. As a vertically integrated firm, Knightvest specializes in renovating and repositioning multifamily properties. Its unique approach is focused on setting a new standard in design-driven quality, executing with operational efficiency, and leading with a people-first culture. Since its founding in 2007, Knightvest has invested over $10 billion to acquire over 60,000 units across high-growth metro areas in Texas, Arizona, the Carolinas, and Florida to become one of the largest apartment owners in the United States. For more information, please visit Knightvestcapital.com