Knightvest Capital has snapped up Ardan West Village, a 389-unit high-rise in the heart of Uptown Dallas’s West Village neighborhood, adding a sleek, amenity-heavy tower to its local holdings and signaling that investor hunger for walkable, central-city rentals is still very much alive.
As reported by the Dallas Business Journal, the deal was announced today. Institutional Property Advisors, the Marcus & Millichap division that brokered the transaction, lists the property at 2975 Blackburn Street and describes Ardan as a 389-unit, Class-A high-rise completed in 2019.
In a press release via PR Newswire, Knightvest said the acquisition pushes its Dallas-Fort Worth portfolio past 10,000 units and that it plans a “comprehensive value-add renovation program.” Founder and CEO David Moore said the purchase positions the firm to drive performance through concentrated market knowledge, signaling the company sees plenty of upside left in the already glossy property.
About the building
Ardan is tucked just steps from the West Village shopping district, the Katy Trail and the Cityplace/Uptown DART station, putting residents within easy reach of dining, nightlife and transit. Institutional Property Advisors’ property page notes that apartments average about 939 square feet and that the community features a resort-style pool, wellness spa, coworking lounge and controlled-access parking.
Renovations and market context
Knightvest says it will pour significant capital into modernizing indoor amenity spaces, refreshing landscaping and layering in technology such as smart-home features and bulk Wi-Fi to keep the building competitive with the latest wave of luxury product. Terms of the sale were not disclosed, per the Dallas Business Journal, and brokers on the deal said they represented Mill Creek Residential on behalf of institutional clients…