Geographic concentration
Texas 77% · 6 states ,pin-l-21+315b8f(-95.3698,29.7604),pin-l-13+315b8f(-97.3308,32.7555),pin-l-11+315b8f(-112.074,33.4484),pin-l-9+315b8f(-97.7431,30.2672),pin-l-8+315b8f(-98.4936,29.4241),pin-l-5+315b8f(-80.8431,35.2271),pin-l-4+315b8f(-78.6382,35.7796),pin-l-2+315b8f(-81.3792,28.5383)/auto/320x140@2x?padding=28&access_token=pk.eyJ1IjoiYWdhbXBpbHBlbCIsImEiOiJjbWl0OXc3ejUwcm1mM2hweGc1bzk1M2trIn0.YY4p--2DUf6NXIs9ZimyLg)
Profile factor A court-filed roster of 150 properties puts 116 in Texas, 19 in Arizona and 11 in the Carolinas. Dallas and Houston alone are a third of everything the firm has ever bought.
Knightvest Capital
Dallas multifamily owner-operator that buys tired Sun Belt apartment communities and rebuilds them: 150 acquisitions since 2012, in-house management and construction, and the 30th largest apartment portfolio in the United States. Founded 2007.
- Sector
- Multifamily·workforce
- HQ
- Dallas, TXnmhc.org
- Established
- 2007knightvestcapital.com
- US owner rank (NMHC 2026)
- #30 · 33,603 units, down 1,094 YoY NMHC 50
- Acquisitions on the court record
- 150 properties, 2012–2025 · 92 still held MDL 3071 Exhibit A
- Invested (per sponsor)
- $12B · 65,000 units acquired since 2007 knightvestcapital.com
- Median realized hold
- 4.1 years across 58 dated exits computed from the roster
- Fund I (Form D)
- $155.25M fully sold · 95 investors Form D
Caveat RealPage rent-pricing class action settled September 2025, $1.5M, no admission of wrongdoing jump ↓
CREsponsor scorecard
A standardized public-record assessment. Select any scored lens or profile factor to inspect the cited evidence.
Awards
70/100
Documented Two recognitions verified at the granting body: NMHC ranks Knightvest #30 US apartment owner for 2026, and MHN gave its Plano repositioning a 2025 Excellence Award silver, a rare execution award, not an employer one.
Online reputation
78/100
Mixed Residents average 3.91/5 across 3,188 Google reviews at nine communities in five states: measurably above the mid-3s base rate for value-add. Our read of the BBB listings for the manager is Positive.
Team expertise
89/100
Deep public record Three institutions underwrote this team through SEC-filed joint ventures, and the bios are deeper than Knightvest publishes: 14 years at CWS Capital, a Goldman Sachs vice-presidency, a founder out of Prudential and HFF.
Risk screen
68/100
Monitor findings A named defendant in the RealPage rent-pricing class action, settled September 2025 for $1.5 million with no admission: roughly $45 a unit. No enforcement or distress; foreclosure records clean in three counties.
Differentiator
Renovation as the product
Profile factor A chief construction officer sits in the C-suite beside the CFO and CIO, and the renovation itself (not the acquisition), won the firm its only judged industry award. Repositioning is the business.
Sources of capital
Institutional JV + funds
Profile factor NexPoint, Invesco's non-traded REIT and CrowdStreet's REIT each hold Knightvest positions disclosed in their own SEC filings, alongside a $155M Fund I that closed fully subscribed and a $500M Fund II.
Scores are CREsponsor editorial assessments of the cited public record, not ratings by any regulator. Methodology · Report a correction.
Profile factor
Track record and scale
Track record Court-documented
Uniquely for this directory, Knightvest's transaction history comes from a sworn court exhibit rather than a marketing page: dates for every acquisition and disposition. Prices and returns remain private.
Most sponsors publish the deals they want you to see. Knightvest’s transaction history is public for a different reason: when it settled the RealPage antitrust class action in September 2025, it filed Exhibit A, a roster of 150 properties with street address, city, acquisition date and disposition date, covering every community it owned or managed that ran RealPage’s pricing software. That document, not the firm’s website, is the spine of this section.
Three things fall out of it that no sponsor would volunteer.
150 Properties on the court record acquired 2012–2025
92 Still held at filing as of 2025-09-29
58 Dated exits median hold 4.1 yrs
2 of 40 2021–2022 vintage exits 38 still held
One: the firm sells, consistently, in every market. Fifty-eight of the 150 properties carry a disposition date, spread across 2018 (5), 2019 (8), 2020 (4), 2021 (12), 2022 (12), 2023 (4), 2024 (9) and 2025 (4). It kept transacting through the 2023 freeze that stopped most value-add sponsors dead. Median realized hold is 4.1 years: the textbook value-add horizon, executed rather than described. The shortest was Live at NoDa in Charlotte at 1.7 years; the longest, Westcreek Ranch in McKinney, ran 11.4 years.
Two: the peak-pricing vintage is completely untested. Knightvest bought 27 properties in 2021: its busiest year ever, and 13 more in 2022. As of the September 2025 filing, 25 of those 27 and all 13 were still held. Whatever those deals eventually return, no public record shows it yet, and the firm’s median 4.1-year hold means the answer arrives in 2026 and 2027. Every judgement about Knightvest’s current fund performance is, at this moment, an extrapolation from pre-2021 deals.
Three: the portfolio is shrinking slightly. NMHC’s independently compiled ranking puts Knightvest at 33,603 units for 2026, down from 34,697: the same #30 position, 1,094 fewer units. Set against the sponsor’s own report of $1.15 billion of transaction activity in 2025 (per Knightvest), that reads as active two-way trading rather than retreat, but the direction is down.
One deal with a public price. In June 2017 Resource Real Estate Investors 6, L.P. sold a San Antonio apartment complex to Knightvest Acquisitions, LLC for approximately $19.5 million, disclosed in the seller’s own Form 8-K, the one Knightvest transaction where a counterparty put the number on an SEC filing. Beyond it, per-deal pricing and LP returns are not public anywhere.
Profile factor
Geographic footprint
Geographic concentration Texas 77% · 6 states
Counts taken from the 150-property court roster, so this is filed-under-oath data rather than a portfolio page, but it covers only RealPage-licensed communities and carries no unit counts.
Knightvest is a Texas operator with three expansion markets. Of the 150 properties on the court roster, 116 sit in Texas: Dallas (26), Houston (21), Fort Worth (13), Austin (9), San Antonio (8) and a long tail of suburbs. Arizona accounts for 19, the Carolinas for 11, Florida for two, and there is one each in Oklahoma and South Carolina.
The concentration is the strategy, not an accident. A sponsor that runs its own management company and its own renovation crews needs route density: the same superintendent, the same subcontractors and the same regional manager have to reach a dozen assets. That is why the 92 currently-held properties cluster the same way: 20 in Dallas, 14 in Houston, eight in Phoenix, six in Austin, five in Fort Worth. The cost is the obvious one: a Texas rent shock reaches three-quarters of the book at once, and Austin, where Knightvest holds six, saw the deepest rent declines of any major US market over 2023–2025.
For the local comparison set, see the Dallas/Irving, Houston, Fort Worth, Austin, San Antonio, Phoenix, Charlotte, Raleigh and Orlando hubs.
Public-record assessment
Key personnel
Editorial score 89 /100
Scored on public track record: the depth of verifiable history for each seat. Institutional counterparties that underwrote this team in their own SEC filings count heavily. Knightvest publishes no career history for anyone, so four of these five cards were previously capped for having no named prior employer; reading the executives' own profiles on 2026-07-30 supplied all four, including CWS Capital Partners, JPI and a Goldman Sachs vice-presidency.
Behind the 84/100: the strongest evidence for this team is not its bios, it is that three separate institutions did the diligence and wrote the cheque, each documenting it in their own SEC filings: NexPoint in 2015, Invesco’s non-traded REIT in 2021, and CrowdStreet’s REIT holding two positions into 2026. A firm that grows from nothing in 2007 to the 30th largest apartment owner in the country, with a C-suite that includes a dedicated chief construction officer, has demonstrated something the marketing cannot. The deduction is disclosure: Knightvest publishes titles without narrative bios, so the pre-firm careers of most of its executives are not public.
Executive
Public track record 91/100
- Named as Knightvest's CEO on NMHC's 2026 top-owner ranking
- Founded 2007; built to #30 US apartment owner (33,603 units)
- Prior: Macfarlan Capital, HFF, Prudential Financial, Arthur Andersen (per LinkedIn)
- Control person defined across four Knightvest entities in the MDL settlement
- Source NMHC 2026 owner list ↗
Operations
Public track record 87/100
- 14 yrs at CWS Capital Partners as SVP, acquisitions and asset management (per LinkedIn)
- Prior: 6 yrs in acquisitions at JPI; 31-yr career from Comerica in 1995 (per LinkedIn)
- Knightvest Management LLC is the named property manager in Invesco's JV agreement
- No adverse complaint pattern on any of the ten BBB listings checked for Knightvest Management
- Source knightvestcapital.com team ↗
Deal flow
Public track record 84/100
- Vice President at Goldman Sachs 2018–2021 (per LinkedIn)
- Knightvest investor relations 2014–18, left for Goldman, returned as CIO 2021
- Prior: investment associate, Northern Trust 2011–14 (per LinkedIn)
- Oversees a book that traded ~$1.15B in 2025 (per sponsor)
- Source knightvestcapital.com team ↗
Renovation
Public track record 82/100
- 28-yr construction career from 1998; 12 yrs at Knightvest (per LinkedIn)
- Prior: senior construction manager, The MG Herring Group 2006–14 (per LinkedIn)
- Renovation runs in-house, not through third-party GCs
- MHN 2025 Excellence Award silver for the Dorian & Encore repositioning
A C-suite construction seat is unusual at this size and is the structural reason renovation is treated as the product rather than a cost line.
- Source knightvestcapital.com team ↗
Finance
Public track record 74/100
- Controller from Oct 2013, promoted to CFO Apr 2022: 13 yrs inside (per LinkedIn)
- CFO across a $155M closed fund and a $500M offering
- Counterparty to institutional JV reporting at NexPoint and Invesco
- Source knightvestcapital.com team ↗
The wider team page lists leadership across four departments (Leadership, Capital Formation, Acquisitions and Asset Management), including Chris Eisenlohr (General Counsel), Jared Awbrey (Managing Director, Asset Management), Allison Crawford (SVP, Strategic Services and Technology), Claudia Betancourt (Managing Director, Head of Capital Formation) and John Jarvis (Managing Director, Capital Formation). A dedicated capital-formation department of that size is what a $500 million fund raise requires.
Published contact points: Knightvest lists 214-989-7061 at 8343 Douglas Avenue, Suite 500, Dallas, TX 75225 on its own site and its BBB profile.
Public-record assessment
Risk screen
Editorial score 68 /100
Screens run 2026-07-26 against SEC EFTS and enforcement, IAPD, CourtListener federal dockets, the MDL 3071 settlement record, BBB, and a distress sweep. A settled claim with no admission is reported as settled, with its terms.
Behind the 68/100: the one real finding is resolved and cheap. Knightvest was a named defendant in the RealPage rent-pricing class action (as roughly fifty large landlords were), and settled in September 2025 for $1.5 million with no admission of wrongdoing. Against a 33,603-unit book that is an immaterial sum, and materially smaller than what larger co-defendants paid. What holds the score out of the 80s is not that matter but its context plus two structural gaps: no adviser-registration disclosure regime applies to this firm at all, and the 2021–2022 acquisition vintage has not yet been tested by a single public exit.
Clear SEC enforcement EDGAR full-text search across all form types returns 24 filings naming Knightvest and 7 naming David Moore in a Knightvest context, all Form D vehicle filings or a counterparty 10-Q. No enforcement matter. Control: the same unfiltered query returns 10,000+ on a common term. EDGAR full-text search
Finding RealPage / algorithmic rent pricing Named defendant in MDL 3071; settled 2025-09-29 for $1.5M in two instalments, denying liability, with a cooperation obligation. Represented by Baker Botts LLP and Baker Lopez PLLC. settlement agreement
Finding Adviser registration / Form ADV No IAPD record exists. Knightvest is neither a registered nor a reporting adviser, so there is no Item 11 disclosure duty and no fee brochure: the fund fee schedule, promote and waterfall are not public. Control (2026-07-29): the same IAPD endpoint returns Cortland Investment Management (299369), so this zero is proven, not an empty index. IAPD search
Clear Federal civil dockets Of 76 dockets naming Knightvest, all but two are MDL 3071 member cases. The two others are closed personal-injury suits: Royale v. Knightvest Management (N.D. Tex. 2016, terminated 2018) and Cranston v. Knightvest Halston (N.D. Tex. 2019, terminated 2021): routine premises litigation at this scale. CourtListener
Clear Per-executive enforcement + docket A brand-scoped search for David Moore returns no case naming him in a Knightvest capacity. Common-name matches elsewhere carry no linking identifiers and are treated as different people. CourtListener
Clear, partial Foreclosure (county records) Clean in all six counties reached. Swept a 426-entity Comptroller roster, not the property list: Dallas and Tarrant on controlled OCR sweeps of the brand and the KV and JV naming families; Travis on 36 instruments, every one a deed of trust, transfer or release rather than a trustee sale; plus Bexar, Maricopa and Collin. Both gaps are structural rather than undone: Harris has no free name search, and Denton's foreclosure images were never OCR'd. Logged in open: and not scored. Tarrant County Foreclosures index
Finding Vintage concentration 27 acquisitions in 2021 and 13 in 2022, of which 38 of 40 were still held at the September 2025 filing. No peak-pricing exit is public, so the current fund vintage carries no realized evidence either way. MDL 3071 Exhibit A
Clear BBB complaints Ten Knightvest Management corporate and site-level listings returned in a Dallas-area BBB search, none of them carrying an adverse complaint pattern. BBB's own ratings are not reproduced here; read them on the profiles. BBB search
Screens as of 2026-07-29.
Settled 2025-09-29 · no admission of wrongdoing Named 2023 · settled Sep 2025
RealPage rent-pricing class action, settled
U.S. District Court, M.D. Tennessee (Nashville) · MDL No. 3071
One of roughly fifty landlord defendants, with Greystar, Camden, Cortland, Lincoln and Equity Residential, in the Sherman Act class action over RealPage revenue-management software. On 29 September 2025 Knightvest settled for $1.5M in two instalments, covering four entities and anything under common control with David S. Moore, denying liability. Against 33,603 units that is roughly $45 a unit, an order of magnitude below larger co-defendants.
- Case
- In re RealPage, Inc., Rental Software Antitrust Litig. (No. II), 3:23-MD-3071
- Settlement amount
- $1,500,000, two $750,000 instalments
- Admission
- None; Knightvest denies all allegations
- Additional obligation
- Cooperation with plaintiffs against remaining defendants
For the same matter seen from a much larger operator’s side (including a state-attorney-general consent settlement and an $18 million class payment), see Cortland.
Public-record assessment
Awards and designations
Editorial score 70 /100
Each recognition traced to its granting body. A ranking of scale and a judged award for a specific renovation are different things, and both are noted as what they are.
Behind the 70/100: two current recognitions, both verified at the source, and one of them is the rarer kind, a judged award for the execution of a specific repositioning rather than for headcount growth or workplace culture. What caps the score is volume: for a top-30 national owner the recognition profile is thin, with no lender designation, no ESG benchmark and no employer awards surfaced.
Independently verified NMHC 50: #30 largest US apartment owner
The authoritative annual ranking of US apartment ownership, verified directly on NMHC's published list, which also names David Moore as chief executive and Dallas as the headquarters. This is a scale ranking, not a performance award, and the unit count fell year over year while the rank held.
NMHC 2026 Top Owners Independently verified MHN Excellence Award: Silver, Best Value-Add Renovation
A judged trade award for a specific completed repositioning, placing silver behind Waterton's Citrine Hills and ahead of Veris Residential's Liberty Towers. Unlike a growth list, this evaluates the thing Knightvest actually sells (the renovation), which is why it carries more weight here than its size suggests.
MHN 2025 winners Per sponsor CPE Influence Award
Listed on Knightvest's own news page and not independently re-verified in this screen; recorded as a sponsor claim pending confirmation at the granting body.
sponsor news page Public-record assessment
Online reputation
Editorial score 78 /100
Resident sentiment weighted most, sampled from the court-filed roster so the properties checked are provably Knightvest-owned. Complaint records checked at the management-entity level.
Behind the 78/100: at 3.91/5 across 3,188 reviews, Knightvest’s residents rate it about a third of a star above the mid-3s base rate typical of large Class B value-add portfolios, a real, if not dramatic, operating signal, and consistent with a firm that owns its manager and its renovation crews. The sample is 10% of held communities, which is what caps the score rather than lifts it.
Properties were chosen from the court-filed roster rather than a marketing page, so every community below is provably Knightvest-owned, and the sample deliberately spans five states.
All 9 sampled communities, Google rating (review count) →
| Community | Market | Google rating |
|---|---|---|
| Terra at Park Row | Houston | 4.3 (407) |
| Rock Creek at Ballantyne | Charlotte | 4.2 (222) |
| Ashmore | Pasadena, TX | 4.1 (726) |
| Portrait at Hance Park | Phoenix | 3.9 (218) |
| Steelhouse | Orlando | 3.9 (354) |
| Regatta at Lake Lynn | Raleigh | 3.9 (232) |
| Brighton | Houston | 3.8 (219) |
| Vantage Point | Dallas | 3.7 (418) |
| Halston on Frankford | Dallas | 3.3 (392) |
Three of nine rate at or above 4.0 and none falls below 3.0: a tight, unremarkable distribution, which for a workforce-housing portfolio is the good outcome. The weakest reading, Halston on Frankford at 3.3, is also the asset behind one of the two closed personal-injury suits noted in the risk screen.
Profile factor
Renovation as the product
Differentiator Renovation as the product
Vertical integration is claimed by nearly every sponsor in this directory. It counts here only where the org chart and an independent award both show it operating.
Knightvest describes itself as vertically integrated, which by itself means nothing, so does almost every sponsor on this site. Two specific facts make the claim load-bearing.
The org chart puts construction in the C-suite. Alongside a chief financial officer and a chief investment officer, Knightvest has a Chief Construction Officer (per its team page). At a firm of this size that seat is unusual: most value-add sponsors treat renovation as a budget line administered by asset management and executed by third-party general contractors. Knightvest treats it as a function with its own executive.
And an independent judge rated the output, not the growth. Multi-Housing News awarded Knightvest silver for Best Value-Add Renovation in its 2025 Excellence Awards for the Dorian & Encore community in Plano: an award for how a specific building came out, adjudicated by people who saw the competing entries. That is a different class of evidence from an Inc. 5000 placement, and it is the only award in this profile that speaks to execution.
Why an allocator should care, and what it costs. The business model is buying a 1980s community at a discount to replacement cost and closing most of the quality gap with new supply through renovation. Whether that works depends almost entirely on delivering the renovation on budget and on schedule, because the rent premium only arrives after the unit turns. Owning the crews compresses that timeline and captures the general contractor’s margin: which is the mechanism behind a resident rating meaningfully above the value-add base rate. The trade-off is the standard one for integration: the renovation invoices, the management fee and the occupancy report all originate inside one house, there is no third-party operator whose numbers an LP can triangulate against, and none of the affiliate fee arrangements are disclosed publicly, the only fee term visible anywhere in the record is the 10% preferred return NexPoint negotiated for itself in 2015.
Recent activity
- 2026-04 Neutral
Acquired the Ardan, a 389-unit Uptown Dallas high-rise
AcquisitionA 23-story Class A tower built in 2018: a step up the quality curve from the firm's usual 1970s–1990s value-add product, and its most prominent Dallas purchase.sponsor news - 2026-01 Neutral
NMHC ranks Knightvest #30 US apartment owner
Neutral33,603 units for 2026, holding the same rank as 2025 on 1,094 fewer units. The only independently compiled measure of this sponsor's scale.NMHC 50 - 2025-12 Positive
Won a 2025 MHN Excellence Award (silver) for Dorian & Encore
NeutralBest Value-Add Renovation for the Plano, Texas repositioning: a judged award for execution rather than a growth ranking.MHN - 2025-09-29 Positive
Settled the RealPage antitrust class action for $1.5M
NeutralTwo $750,000 instalments, no admission of wrongdoing, plus a cooperation obligation. The settlement's Exhibit A put Knightvest's 150-property transaction history on the public record.settlement agreement - 2024-09 Neutral
Knightvest Capital Fund II began raising against a $500M offering
Fundraise$94.1 million reported sold from 98 investors as of the October 2024 filing: the successor to a Fund I that closed fully subscribed at $155.25 million.Form D
Profile factor
Sources of capital
Sources of capital Institutional JV + funds
Every capital relationship below is disclosed in the investor's own SEC filing rather than in Knightvest's marketing, the strongest available evidence for a private sponsor.
Knightvest’s capital partners can be verified without asking it: three institutions disclosed Knightvest positions in filings they signed themselves, including NexPoint’s $12M 2015 investment, an Invesco Real Estate Income Trust operating agreement naming Knightvest as manager, and CrowdStreet REIT I holdings. None is a pension or sovereign fund, the Conquer Knightvest Fund II vehicle is a third-party feeder rather than Knightvest’s own raise, and fees, promote and waterfall are not public because Knightvest files no Form ADV.
How Knightvest compares
- Cortland: the closest peer in kind: a vertically integrated multifamily owner with in-house construction, a RealPage settlement and institutional backing, at roughly twice the scale and with sovereign and pension LPs Knightvest does not have.
- S2 Capital: the same Dallas value-add strategy at similar scale, and the counter-example of what floating-rate leverage did to it. Knightvest is clean in Dallas and Travis on a controlled county sweep, with six counties still open, which is the contrast worth studying.
- CAF Capital Partners and Madera Residential: Texas multifamily sponsors with named institutional partners, for comparing capital structures.
- NexPoint-backed sponsors, the multifamily hub and the full sponsor directory.
Contact
For investors
Contact sponsor Contact Knightvest Capital
Evaluating this sponsor? Send your inquiry through CREsponsor. We forward it to the firm and track that it gets a response.
References
Every figure above links to its source in place. The primary records behind this profile:
- Knightvest settlement agreement, MDL 3071, terms plus the 150-property Exhibit A roster
- NMHC 2026 Top Owners, rank, unit count and prior-year comparison
- SEC EDGAR full-text search, Knightvest Form D filings
- NexPoint Diversified REIT annual report and Invesco INREIT San Simeon JV agreement
- CrowdStreet REIT I annual reports, dated third-party valuations of two Knightvest positions
- Resource Real Estate Investors 6 Form 8-K, June 2017, the one publicly priced Knightvest acquisition
- knightvestcapital.com, about, team, news
Related on CREsponsor: Dallas/Irving sponsors · Houston sponsors · Fort Worth sponsors · Austin sponsors · San Antonio sponsors · Phoenix sponsors · Charlotte sponsors · Raleigh sponsors · Orlando sponsors · Multifamily · Workforce housing · NexPoint-backed sponsors · Cortland · S2 Capital · CAF Capital Partners · How CREsponsor scores sponsors · Disclaimers
Frequently asked
- What is Knightvest Capital's AUM and portfolio size?
- The National Multifamily Housing Council ranks Knightvest the 30th largest apartment owner in the United States for 2026, with 33,603 units: down from 34,697 a year earlier. On its own site Knightvest says it has invested $12 billion to acquire 65,000 units since 2007 and currently holds roughly 35,000 units in eight markets. The NMHC figure is the independently compiled one.
- Who founded Knightvest Capital and who runs it?
- David S. Moore founded the firm in 2007 and remains Founder and Chief Executive Officer; NMHC lists him as the firm's chief executive on its 2026 owner ranking. Daniel Ebner is President of Knightvest Residential, Mary-Tyler Labhart is Chief Financial Officer, Madison Tappan is Chief Investment Officer, Melanie Adams is Chief Construction Officer and Chris Eisenlohr is General Counsel.
- Where is Knightvest Capital headquartered?
- Dallas, Texas: 8343 Douglas Avenue, Suite 500, per the firm's own site and its BBB listing. Earlier SEC Form D filings were made from 5400 LBJ Freeway and, later, 5728 LBJ Freeway.
- What is Knightvest Capital's investment strategy?
- Buying underperforming 1970s-to-2000s apartment communities in Sun Belt metros and repositioning them through heavy interior and amenity renovation, then holding roughly four years. The firm is vertically integrated: Knightvest Residential manages the communities and a chief construction officer runs renovation in-house rather than through third-party general contractors.
- Who are Knightvest Capital's investors?
- A mix documented in other institutions' own SEC filings. NexPoint invested $12 million into a Knightvest-managed joint venture owning the 696-unit Ashmore in Pasadena, Texas. Invesco Real Estate Income Trust took a preferred-equity position in San Simeon JV LLC, managed by Knightvest 2020, LLC. CrowdStreet REIT I held two Knightvest positions valued at $1.17 million and $1.03 million as of 31 December 2025. Alongside those, Knightvest Capital Fund I closed fully subscribed at $155.25 million from 95 investors and Fund II is raising against a $500 million offering.
- What is the minimum investment in a Knightvest fund?
- Neither Knightvest Capital Fund I nor Fund II reports a minimum investment on its SEC Form D. The firm's early single-asset vehicles filed minimums of $10,000 (Knightvest PB, 2014) and $25,000 (Knightvest Fairways, 2015). A third-party feeder, Conquer Knightvest Fund II, LLC of Oklahoma City, accepts $15,000 minimums and had raised $14.6 million from 45 investors by mid-2025: that is the retail on-ramp, and it is run by a different sponsor.
- What are Knightvest Capital's fees and carried interest?
- Not public. Knightvest is not an SEC-registered or reporting investment adviser (no IAPD record exists), so it files no Form ADV and publishes no fee brochure. Its funds are private Rule 506(b) offerings, so the management fee, promote and distribution waterfall come from the PPM and from the GP directly. The one fee structure visible in public filings is the 10% return on unreturned equity NexPoint negotiated in its 2015 joint venture.
- Has Knightvest Capital been sued or investigated?
- Knightvest Residential was one of roughly fifty landlords named as defendants in In re RealPage, Inc., Rental Software Antitrust Litigation (MDL 3071, M.D. Tenn.), the class action alleging that owners used RealPage revenue-management software to inflate rents. Knightvest settled on 29 September 2025 for $1,500,000 payable in two instalments, denying the allegations and admitting no wrongdoing, and agreeing to cooperate with plaintiffs. Separately, two federal personal-injury suits against Knightvest entities were filed and closed between 2016 and 2021: routine premises litigation for a portfolio of this size. No SEC enforcement action, regulatory disclosure, bankruptcy or foreclosure involving Knightvest surfaced as of 2026-07-26.
Revision history6entries
- Tarrant County foreclosure screen completed, clean, cutting the open-county list from six to five. Tarrant was recorded last pass as an unreachable portal; it loaded normally a day later, so the entry was a tooling artifact rather than a fact about the county, and the same correction applies to any inherited blocked list. The sweep ran the naming families off the roster rather than entity by entity: KNIGHTVEST returns 0, the KV family returns 5 notices that all belong to KV Custom Cabinets Inc of Burleson, and the MASSANDRA joint-venture family returns 0. Because Tarrant is the one Texas portal that prints the GRANTOR in its results table, the whole commercial-multifamily docket was also read by eye: 11 notices for APARTMENT and 39 for APARTMENTS, none of them a Knightvest entity, which covers the asset-named vehicles that carry no brand token. Controls run the same day: 13,054 for SUBSTITUTE TRUSTEE, 9,063 for LLC (which is what licenses an entity-name zero rather than merely a document zero), and 0 for an invented token. Three counties are now clean. The row stays queued because Bexar, Harris, Collin, Denton and Maricopa are unrun, and Maricopa is the largest of them at 17 acquisitions. Risk lens held at 68: nothing adverse surfaced, and a wider proven negative is not evidence for an upgrade.
- The SEC-enforcement screen was re-run and its citation corrected. The previous screen cited an EDGAR full-text query filtered to `forms=AAER`, which cannot return a result for any term: AAER releases are SEC administrative publications, not EDGAR filings, so the filter selects a form type that does not exist. Verified by control: `the`, `fraud` and `securities` each return 0 under `forms=AAER` while the same terms unfiltered return 10,000+. The 24 filings naming Knightvest and 7 naming David Moore are Form D vehicle filings and a counterparty 10-Q; no enforcement matter. Also corrected the peer-comparison section, which described a 'clean distress screen' while the foreclosure row is queued: it is clean in Dallas and Travis on a controlled sweep with six counties still open, and now says so.
- Sources of capital condensed to a two-sentence statement with inline sources. The section had grown to 11-131 lines per page of LP cards, fund cards and audit trail; the facts that decide an allocation (who the capital comes from, and who absorbs a loss) were being carried by a slab most readers skip. Every claim and link in the short version is carried over from the long one, and the per-vehicle detail remains in git history, in the FAQ entries for minimums and fees, and in `sources[].gave:`. No score changed: the lens is value-mode and carries no weight in the hero grade.
- Foreclosure screen run for the first time, roster-first. The Texas Comptroller franchise-tax dataset returns 426 affiliated entities across Knightvest's two registered addresses, 65 of which carry no brand token and were therefore invisible to every earlier brand-based search; that roster, not the property list, became the query set and is now recorded in entity_pattern. Dallas County, the HQ county, is clean: its foreclosure department is OCR-searchable back to 2020 and returns zero for the brand, for the fund-vehicle prefix and for every asset-named roster token run, with the negative controlled in both directions (1,726 hits for SUBSTITUTE TRUSTEE, zero for an invented name). Isolating commercial multifamily reduced the whole Dallas foreclosure docket to 14 notices for APARTMENT and 17 for APARTMENTS, and none belongs to Knightvest. Travis County is clean as well: 36 instruments under the KNIGHTVEST party prefix, every one a deed of trust, transfer, release, easement or UCC filing, with no trustee-sale document type among them. Three apparent Dallas hits were resolved as false positives and logged so they are not re-chased, the most instructive being a Copperfield match that is a subdivision name rather than the roster's COPPERFIELD TX OWNER LLC. The row stays queued rather than clear because Tarrant and Bexar could not be reached this pass and Harris, Collin, Denton and Maricopa were not run. Risk lens held at 68: nothing adverse was found, and a partial screen is not evidence for an upgrade.
- Citation audit: corrected the Multi-Housing News 2025 Excellence Awards URL, then re-read the winners page to confirm the placement, Best Value-Add Renovation, gold Citrine Hills (Waterton), silver Dorian & Encore (Knightvest), bronze Liberty Towers (Veris Residential).
- Initial publish. The spine of this profile is unusual: Exhibit A to Knightvest's September 2025 RealPage settlement is a court-filed roster of 150 properties with street addresses, acquisition dates and disposition dates, which makes this the only sponsor in the directory whose transaction history can be reconstructed from a sworn document rather than a marketing page. It yields a 77% Texas concentration, a median realized hold of 4.1 years across 58 exits, and the finding that 25 of 27 properties bought in 2021 and all 13 bought in 2022 were still held: the peak-pricing vintage is entirely untested. Scale verified independently at NMHC: #30 US apartment owner for 2026 at 33,603 units, down 1,094 from 2025. Risk screen 68/100: named defendant in MDL 3071, settled for $1.5 million with no admission (immaterial against a 33,600-unit book), plus two closed premises-liability suits and no enforcement, distress or foreclosure. Capital sources documented from the counterparties' own filings: NexPoint's $12 million joint venture, Invesco Real Estate Income Trust's preferred equity in San Simeon JV, and two CrowdStreet REIT I positions valued at 2025 year-end.
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