One other Dallas condominium tower has been snapped up by buyers.
The simply accomplished Nove at Knox is a 19-story, 310-unit residential high-rise on North Central Expressway south of Knox Avenue.
The posh rental neighborhood was opened in March of this yr by developer Southern Land Co. Investor KBS was a companion within the mission.
The tower simply bought to a partnership of New York-based investor KKR and Texas developer and investor Kairoi Residential.
“Our acquisition of Novē at Knox strengthens our already deep presence within the highly-attractive Solar Belt area which continues to learn from internet migration because of sturdy employment development and engaging way of life advantages,” Chris Lee, companion and head of actual property Americas at KKR, stated in a press release. “We consider this property is poised to learn from Dallas’ sturdy financial fundamentals within the years to come back.”
KKR has bought about $1.8 billion in residences within the final 12 months. And it owns 2,500 rental models in Solar Belt cities.
KKR has additionally current bought a number of D-FW space industrial buildings.
“Excessive-end multifamily properties like Novē at Knox, situated in thriving Texas markets like Dallas, are more and more attracting buyers,” Gio Cordoves, Western regional president for vendor KBS, stated in a press release. “As Dallas continues to draw residents from different components of the nation, demand for top-tier multifamily properties like Novē at Knox is on the rise on this market.”
Kairoi Residential, the San Antonio-based companion with KKR on the Nove at Knox buy, can also be constructing new condominium communities in Dallas’ Uptown and Oak Cliff.
“This can be a very well-appointed condominium advanced with spectacular views, unmatched companies and a extremely fascinating location,” Madison Marceau, president of acquisitions at Kairoi stated.
The North Dallas condominium tower is the most recent in a collection of such current gross sales.
The 31-story Christopher rental constructing north of downtown Dallas on Subject Avenue simply bought to Dallas-based L&B Realty Advisors.
A Florida investor in July bought the 21-story Mondrian condominium high-rise within the Cityplace improvement, and a California investor acquired the 21-story Gables Uptown Tower on McKinney Avenue.