Knightvest Capital acquired the Ardan community in Dallas. Built in 2018, the Class A, 389-unit high-rise community is located in the West Village neighborhood of Uptown Dallas. Brookfield Properties was the seller. Knightvest Capital secured a $112 million acquisition loan.
Knightvest plans to implement a comprehensive value-add renovation program at Ardan, investing significant capital to modernize the large indoor amenity space, including a full upgrade of the clubhouse, fitness center, and pool area to better compete with newer luxury product in the submarket. A select number of units will also be renovated to a premium finish level, complemented by enhancements to common areas, landscaping, and technology offerings such as smart home features and bulk Wi-Fi. Together, these improvements are designed to elevate the resident experience and firmly position Ardan within the top tier of the Uptown Dallas market.
The re-branded Ardan Apartments provides residents with immediate access to Uptown, Downtown, Knox/Henderson, and the Katy Trail.
The post Knightvest Acquires 389-Unit Uptown Dallas Apartment Community appeared first on Connect CRE.
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