Updated Dec 4, 2024
Knightvest Capital Acquires 398-Unit Dorian Apartments In Plano, Texas
8401 Memorial Lane
Units
398
Asset Type
MultiFamily
Closing
Jan 17, 2024
About this deal
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.
On the Map
MultiFamily
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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