Knightvest Capital Launches Second Fund with Strategic Acquisition of Encore Apartments in Plano
In a bold move reaffirming its role as a leader in multifamily investments, Knightvest Capital has initiated its second fund’s growth journey with the acquisition of the Encore Apartments, a strategic asset nestled in the thriving Legacy area of Plano, North Texas. The Encore Apartments, a robust 240-unit community featuring a mix of one and two-bedroom homes, is set to experience a renaissance under Knightvest’s thoughtful stewardship.
Constructed in 2013 and anchored by a three-story design, this community currently offers a resort-style pool and fitness center, amenities that align with the lifestyle-centric demands of modern renters. Knightvest’s vision extends beyond the existing infrastructure; the firm plans to elevate the living experience by refurbishing unit interiors, updating and revitalizing communal amenities, and introducing a resident lounge—an addition that seeks to complement the live-work-play balance that tenants increasingly prioritize.
The location of the Encore community can’t be overstated. North Plano, the metropolitan backdrop for this property, boasts a rapidly expanding market. It’s a region synonymous with lucrative employment opportunities, an exceptional educational framework, and a vibrant excursion into entertainment—the very epitome of a locale poised for significant investment and resident allure.
As the market edges away from new constructions in favor of cost-effective yet luxurious living spaces, Knightvest’s enhancement of the Encore Apartments is set to meet an essential need. Knightvest is not just renovating a property; it’s crafting an inviting, stylish, and affordable sanctuary for those drawn to the economic vitality of North Texas.
“We’ve been greatly encouraged by investor interest in our new fund given our differentiated capabilities and strong track record of results,” said Knightvest Founder and CEO David Moore. Moore’s sentiments reflect an incontrovertible confidence in the trajectory set by this latest investment, “As the first investment of our new fund, this acquisition represents an important milestone, and it’s a perfect fit for our proven playbook given the value-add opportunity in one of the best markets in the nation.”
Knightvest’s approach, punctuated by its commitment to creating value and enhancing communities, reaffirms the significance and responsibility that multifamily industry leaders hold, not only towards their investors but equally towards the residents they serve. It’s through this delicate balance of foresight, investor relations, and community development that industry benchmarks are set and redefined. Knightvest’s latest undertaking with the Encore Apartments is a testament to that transformative ethos—a foundational step towards shaping the desirable and sustainable living spaces of tomorrow.