DALLAS — Locally based investment firm Knightvest Capital has acquired Ardan West Village, a 389-unit apartment building in Uptown Dallas. Ardan West Village is a 23-story building that was constructed in 2018 and houses 284 one-bedroom units with an average size of 801 square feet and 105 two-bedroom apartments with an average size of 1,312 square feet. Residences are furnished with stainless steel appliances, quartz countertops, wood-style flooring, floor-to-ceiling windows and individual washers and dryers. Amenities include a pool, fitness center, coworking lounge, private conference room and a pet spa. Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill and Cameron Purse of IPA represented the seller, Mill Creek Residential, which operated the property on behalf of institutional investors, in the transaction. The team also procured Knightvest as the buyer. Mark Brandenburg of JLL arranged an undisclosed amount of floating-rate acquisition financing for the deal through Blackstone Real Estate Debt Strategies.
Knightvest plans to implement a value-add program at Ardan West Village in Dallas. The renovation will modernize the indoor amenity spaces, including full upgrades of the clubhouse, fitness center and pool area. In addition, a select number of units will also be renovated to a premium finish level. Lastly, Knightvest will enhance other to common areas, landscaping and technology offerings such as smart-home features and bulk Wi-Fi throughout the property.
Knightvest Capital Acquires 389-Unit Apartment Building in Uptown Dallas
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