HOUSTON — Mesa West Capital has provided an $81 million loan to Knightvest Capital to refinance Domain Memorial, a 313-unit rental townhome community 17 miles west of Houston in the metro area’s Briar Forest/West Memorial submarket.
During its ownership, Dallas-based Knightvest has renovated a majority of Domain Memorial’s units and has completed improvements to the parking lot, clubhouse, pool area, fitness center, lighting and landscaping and also has installed a new electric vehicle charging station. Knightvest will use a portion of the proceeds from the five-year, floating-rate loan to complete the interior renovations.
Knightvest acquired the property, built in 2016, from the original developer in 2022. Domain Memorial includes a mix of one- , two- and three-bedroom townhomes situated on a 12.7-acre site. The property is currently 95.2 percent occupied.