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Texas  + Dallas-Fort Worth  + Apartments  | 
Knightvest spins off Euless rental property for $34M

Knightvest Flips Euless Rental Property for $34M

The company’s website says it specializes in renovating and repositioning multifamily properties. Knightvest Capital did just that with Reagan at Bear Creek, in Eulesss. The company purchased the 216-unit garden-style community in September 2017, financing the deal with a $20.7 million loan, according to Yardi Matrix. During its six years of ownership, Knightvest executed a renovation and repositioning strategy that included installing quality finish-outs and upgrading the property’s amenities. Knightvest recently sold that same property for $34 million. The buyer was TwinkleStar Asset. The community is 93.1 percent occupied.

TwinkleStar Asset has been active in Texas, selling Wedgewood and Villas Del Sol, two Fort Worth multifamily properties totaling 222 units, to a local private investor in 2020. The company’s holdings are worth $360 million across 4,470 units.

Knightvest has acquired $10 billion of assets totaling 55,000 units since 2007.


Inside The Story

KnightvestTwinkle Star

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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