Knightvest Capital has secured $81 million in first mortgage debt to refinance Domain Memorial, a 313-unit townhome rental community in Houston.
Built in 2016, the property was acquired by Knightvest from the developer in 2022. Located at 14800 Memorial Drive in Houston’s Briar Forest/West Memorial submarket, the community offers a mix of one-, two- and three-bedroom two-story townhomes with an average size of 1,300 square feet, housed in 29 residential buildings on a 12.7-acre site.
During its ownership, Knightvest has implemented interior renovations across many units, as well as exterior and common-area upgrades, including improvements to the parking lot, installation of a new EV charging station, enhanced lighting and landscaping, and updates to the clubhouse, pool area and fitness center.
A portion of the proceeds from the five-year floating-rate loan will be used by Knightvest to complete the interior renovations, which have resulted in increased occupan
