Knightvest Buys 362-Unit Houston Community

Newmark originated an acquisition loan on behalf of the new owner.

Knightvest Capital has acquired San Cierra Apartments, a 362-unit community in Houston. The seller was 29th Street Capital, according to Yardi Matrix information. The buyer took out a $51.9 million Freddie Mac loan originated by Newmark, set to expire in 2029.

The acquisition aligns with the initial closing of Knightvest’s Fund II and marks the second asset purchased through the fund. The new owner plans to implement multiple capital improvements at the Class A property.

The townhome-style community came online in 2008 and encompasses 49 two-story buildings. The unit mix consists of one- to three-bedroom layouts ranging from 935 to 1,728 square feet. Apartments feature private balconies or patios and have direct access to enclosed garages.


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Common-area amenities include a playground, clubhouse, swimming pool and spa, as well as a fitness center. The property also has a media room, business center and 425 parking spaces.

Located at 15500 Cutten Road on 25 acres, the community has access to retail and entertainment options, including the Vintage Park shopping center. Downtown Houston is 26 miles away, while the George Bush Intercontinental Airport is 21 miles east.

Houston multifamily sales maintain momentum

Houston registered 108 communities—more than 26,120 units—trading year-to-date as of September, for a $1.7 billion multifamily transaction volume, according to Yardi Matrix data. This represents a slight increase from the $1.5 billion registered during that same period in 2023, when 84 properties—some 21,780 apartments—changed hands.

Last month, Kingwood Houston Oaks Limited Partnership sold Oaks of Kingwood, a 152-unit property in Kingwood, a master-planned community in Houston. The asset previously traded 25 years ago.

In July, Gupta Vanderbilt Place LLC sold the 288-unit Vanderbilt Apartments in Clute, Texas, south of Houstin. The property came online in 1978.

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