KATY, TX – Walker & Dunlop announced that it completed the sale of Vineyards, a 369-unit, garden-style community in Katy, Texas. Built in 2003, the property is within the Houston metropolitan area and has significant value-add potential.
Walker & Dunlop’s Houston Multifamily Investment Sales team represented the seller, Preferred Apartment Communities in the transaction to the buyer, Knightvest Capital. Director Scott Bray and Managing Directors Ryan Epstein and Jennifer Ray, effectively communicated the property’s investment benefits, including its long-term stability, future rent growth, and value appreciation.
“Thanks to its ideal location within the Katy submarket and Katy’s top-ranked school district, Vineyards was an brilliant investment. The property also had strong month-to-month performance, which has maintained momentum throughout the pandemic,” commented Bray. “With nearly all of the units in original condition and the strong occupancy at the asset, Vineyards is well-positioned for a value-add strategy through an interior unit renovation program.”
Mr. Bray added, “Vineyards presented a wealth of attractive attributes for our clients who were looking to invest in the Houston multifamily market. We’re certain that Knightvest will continue to maximize the property’s value.”
Vineyards’ proximity to Interstate 10, Highway 6, and the TX 99 Grand Parkway affords convenient access to the city’s highest income employment centers. These include the Central Business District, Westchase District, and the Energy Corridor, which are home to many corporate headquarters and local businesses. Additionally, residents of Vineyards are within minutes of many dining, shopping, and entertainment options. With large unit sizes, plenty of green space, and unparalleled schools in the area, the community is highly desirable for residents seeking a live, work, and play environment.

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DALLAS, TX – Nicholas SunTx RE Partners II, in cooperation with Hughes Capital Partners, continues to expand with the acquisition of Bellevue at The Bluffs in Dallas, Texas. Nicholas Residential’s subsidiary, Bellevue Living, will oversee the daily operations of the community.
Formerly Aura Bluffview, Bellevue at The Bluffs was built in 2019 and boasts 473-units of apartment homes. The property features studio, one-, two- and three-bedroom apartment homes, plus multilevel townhomes, across 74 unique floor plot types.
Located within central Dallas, Bellevue at The Bluffs is surrounded by Inwood, Park Cities, Preston Hollow and Dallas Like Field. The community features two sparkling swimming pools, a state-of-the-art fitness facility, business center with a separate conference room, a zen oasis, and a stunning sky lounge with impressive views of Downtown Dallas and the Bachman Creek Greenbelt.
“Our investment in Bellevue at The Bluffs provides the opportunity for Nicholas SunTx RE Partners II and Bellevue Living to position ourselves as leaders in the multifamily sector in Texas,” said Paul Panza, General Partner and President of Bellevue Living. “This acquisition promotes our investment strategy to provide attainable housing to the largest metropolitan areas throughout the Sun Belt.”
In addition to Nicholas SunTx RE Partners II buy of Bellevue at The Bluffs, the company also closed on Bellevue at Avondale in Decatur, GA, continuing their growth strategy into prominent markets across the U.S.
“With the buy of Bellevue at The Bluffs and Bellevue at Avondale, Nicholas SunTx RE Partners II not only buys properties that lead the market, but also the teams that make these communities the absolute best”, added General Partner Ned Fleming.

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GRAND PRAIRIE, TX – FCP and VaultCap Partners have followed their July 2021 acquisition of Corey Place Apartments with the buy of the adjacent 100-unit Prairie Ridge Apartments. The venture plans to combine the properties under a new name, The Marabella on Pioneer, and will lease and operate the Marabella as one 375-unit community.
“Combining Corey Place with Prairie Ridge provides an opportunity for both scale efficiencies and stronger placemaking as we operate both properties under one flag,” said FCP’s Cole Kellogg. “FCP is excited to partner again with VaultCap on Prairie Ridge. We were able to go quickly, closing within 21 days of placing it under contract in an all-cash transaction.”
“The opportunity to invest a substantial amount of renovation capital into both communities will be a fantastic benefit for both the residents and the neighborhood alike,” said VaultCap’s Ryan Heddleston.
Prairie Ridge Apartments are located at 313 Freetown Road in Grand Prairie and feature one, two and three-bedroom apartments with convenient access to 161, 360, I-20 and I-30 and an abundance of job centers, amenities and entertainment venues in nearby Fort Worth and Dallas.
FCP and VaultCap extend their appreciation to Wes Racht, Nick Fluellen, and Bard Hoover from Marcus & Millichap, who represented the seller in the transaction.

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