DALLAS-A joint venture partnership comprised of KnightvestCapital and Panther Transaction Group has acquired a 158-unitmultifamily complex out of foreclosure.
The venture paid a little less than $2.5 million forAugust Park Apartments, which previously had a $5 million mortgagewith Fannie Mae. The GSE hired Taylor Snoddy of Transwestern’slocal office to market the property.
August Park Apartments is the first investment for the ventureand the third apartment buy for Knightvest Capital in the past ninemonths, according to KC Kronbach, a principal with KnightvestCapital, a local investment firm that is targeting distressedmultifamily assets in Texas. Fort Worth-based Panther TransactionGroup is headed by Tommy Pigg and Doug Kincaid.
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