Knightvest Acquires 389-Unit Dallas Luxury Tower
Institutional Property Advisors represented both sides of the sale.
Texas-based multifamily investment and management firm Knightvest Residential has acquired Ardan West Village, a 23-story, 389-unit luxury apartment building in Dallas’ West Village district. Institutional Property Advisors arranged the transaction. The sale price was not disclosed.
Following the purchase, Knightvest is rebranding the property as Ardan Apartments.
The owner of the property was Brookfield Properties, according to Yardi Matrix data. IPA represented Mill Creek Residential, which was managing the property on behalf of its institutional clients, and also procured Knightvest as the buyer. Forest City Realty Trust Inc., now part of Brookfield Properties, developed the property in a joint venture with Cityplace Co., with construction starting in 2016.
An IPA spokesperson told Multi-Housing News the company started marketing for the property in the fourth quarter of 2025. The disposition was made so the seller could rotate capital into other development and acquisition opportunities, the spokesperson stated.
IPA team included Executive Managing Director Drew Kile, Senior Managing Directors Joey Tumminello, Michael Ware and Taylor Hill alongside Associate Director Cameron Purse.
Ardan West Village at a glance
Ardan Apartments is located at 2975 Blackburn St. in the West Village shopping and dining district. The Cityplace/Uptown Dallas Area Rapid Transit station and the Katy Trail are adjacent to the property. Nearby employment centers include the city’s central business district, Uptown Dallas and the Knox District corridor.
Ardan Apartments has a mix of one- and two-bedroom units averaging 939 square feet. Rents range from $2,046 to $5,607, according to Yardi Matrix.
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Apartments feature quartz countertops, stainless steel appliances, hardwood-style flooring, digital locks, washers and dryers in all units and private balconies with views of the skyline.
Community amenities at Ardan include a rooftop terrace, a resort-style swimming pool and deck, a wellness spa, a fitness center, a business center and a coworking lounge. The property has a controlled-access parking garage with more than 550 spaces and electric vehicle charging stations. The LEED-certified Silver building, which was completed in 2019, includes 23,000 square feet of retail space.
Active in Texas, other Sun Belt states
Knightvest, which has offices in Dallas and Houston, has invested in approximately 60,000 units with a total capitalization of $10 billion in six Sun Belt states since its founding in 2007. The firm focuses on major metros in South Carolina, North Carolina, Florida, Texas, Oklahoma and Arizona. Knightvest currently owns 67 assets in its home state and at least 19 in Dallas.
In late February, Knightvest acquired Gables Post Oak, a 316-unit community in Houston that it rebranded as Hollings Post Oak.
One month prior, the company purchased Heritage Estates, a 230-unit multifamily property in Orlando, Fla. It was the third acquisition Knightvest made in the metro in six months. The firm is rebranding the community as The Palmer.
