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8401 Memorial Lane

Knightvest Capital Acquires 398-Unit Dorian Apartments In Plano, Texas
SOLDMultiFamily

Knightvest Capital Acquires 398-Unit Dorian Apartments In Plano, Texas

8401 Memorial Lane

Building Size

Asset Type

MultiFamily

Closing

Jan 17, 2024

AI

Knightvest Capital, represented by David Moore, has acquired the Dorian Apartments located at 8401 Memorial Lane in Plano, Texas. The multifamily property consists of 398 units and was built in 2008. The strategic location of the property spans across several areas in the Dallas-Fort Worth (DFW) region, including Plano, Frisco, McKinney, and Allen.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not mentioned
  • Units: 398
  • Market: Plano

This acquisition aligns with Knightvest Capital's vision of transforming institutional-quality assets into design-driven residential communities. With the addition of the Dorian Apartments, Knightvest Capital expands its portfolio in the Legacy area of DFW, capitalizing on the potential of the thriving real estate market in the region.

Players

David Moore

Knightvest Capital

Buyer

$274.2M

vol

14 deals

Buyer

Plano MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93