Knightvest Capital announced on Apr. 6 the acquisition of the Ardan apartment building, a 23-story, 389-unit high-rise located at 2975 Blackburn Street in Dallas’ West Village neighborhood. The seller was Brookfield Properties, and terms of the deal were not disclosed.
The purchase reflects Knightvest’s ongoing strategy to buy high-quality properties at a discount and invest in upgrades to make them more competitive. According to Founder and CEO David Moore, the deal presents an opportunity to capture “deep discounts to replacement cost,” with expectations for long-term benefits as market conditions improve.
Plans for the property include renovating amenity spaces such as the clubhouse, fitness center, and pool, along with selective unit upgrades. Common areas will also be improved with updated landscaping and new technology features like smart-home systems and bulk WiFi. The company aims to position Ardan among Uptown’s top luxury apartments amid increasing competition from new developments offering advanced amenities.
Ardan’s location is considered key by Knightvest due to its proximity to several popular districts including Uptown, downtown Dallas, Knox-Henderson, and the Katy Trail. This walkable setting has contributed to strong renter demand even as more apartments are built nearby. Current rents range from $2,046 to $5,607 per month for units averaging just under 1,000 square feet.
The acquisition further strengthens Knightvest’s presence in Dallas as part of a broader focus on operational efficiency and local expertise. Since its founding in 2007, Knightvest has assembled a portfolio exceeding 65,000 units and invested over $11 billion across Sun Belt markets with an emphasis on renovations.
