Knightvest Capital Acquires Cypress Apartments In McKinney, Texas

Cypress Apartments, a 276-unit multifamily community in McKinney, Texas, has been sold. The property, located at 4690 Eldorado Parkway, sits on 21 acres of land. Built in 2007, the community offers two- and three-bedroom units. The transaction was facilitated by Institutional Property Advisors (IPA) brokers Michael Ware, Taylor Hill, Drew Kile, Joey Tumminello, Cameron Purse, and Will Balthrope.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: Not disclosed
• Units: 276
• Acres: 21

The buyer of Cypress Apartments is David Moore from Knightvest Capital. The seller in this transaction is Rockport Equity. The broker team representing the buyer and seller includes Cameron Purse, Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, and Will Balthrope, all from Institutional Property Advisors.

NOTE: Cypress Apartments was brokered by Institutional Property Advisors, a division of Marcus & Millichap. The community, featuring two- and three-bedroom units, has been a part of the multifamily market in McKinney since 2007.