KKR Acquires Novē at Knox in Dallas, TX from KBS and Southern Land Company

Novē at Knox is a a 19-story, 310-unit
Class A luxury multifamily complex
in the Knox/Henderson district
near Downtown Dallas, TX

DALLAS, TX and NEW YORK, NY 

Chris Lee

– 

KKR, a leading global investment firm, Kairoi Residential (Kairoi), a national multifamily investment, development, and property management company, KBS, one of the most prominent investors in premier commercial real estate, and Southern Land Company (SLC), a national real estate developer of mixed-use developments and master-planned communities, announced that KKR and Kairoi have acquired Novē at Knox, from KBS and SLC. 

Kairoi will operate the hospitality-inspired property. Novē at Knox was developed and operated by SLC in partnership with KBS.

“Our acquisition of Novē at Knox strengthens our already deep presence in the highly-attractive Sun Belt region which continues to benefit from net migration as a result of strong employment growth and attractive lifestyle benefits,” said Chris Lee, partner and head of real estate Americas at KKR. 

“Novē at Knox is a landmark luxury property ideally located in Dallas’ go-to locale for individuals seeking a dynamic destination to live and work. We believe this property is poised to benefit from Dallas’ strong economic fundamentals in the years to come.”

“High-end multifamily properties like Novē at Knox, located in thriving Texas markets like Dallas, are increasingly attracting investors,” says Gio Cordoves, Western regional president for KBS. 

Gio Cordoves

“In fact, KBS has been ahead of the curve in monitoring population in-migration to these markets. 

Recently, Dallas was ranked second among Texas counties where people were relocating, supporting our development of this asset. 

"As Dallas continues to attract residents from other parts of the country, demand for top-tier multifamily properties like Novē at Knox is on the rise in this market.”

“Novē at Knox presented an excellent opportunity for KBS to leverage its deep office and local market expertise in this region to develop a luxury apartment complex within the Dallas metro,” says Brett Merz, asset manager for Novē at Knox and senior vice president at KBS. “This is an extremely desirable property for investors in this market.”

 

Brett Merz

KBS is the asset manager of several best-in-class office properties in the Dallas/Fort Worth market, including 3811 Turtle Creek, Highland Park Place, Legacy Town Center I-III, Preston Commons, Providence Towers, Sterling Plaza and Tollway North Office Park, among others.

“The ability to collaborate with KBS on this project and deliver a one-of-a-kind luxury asset in the middle of a pandemic is an outstanding accomplishment,” says Tim Downey, founder, and CEO of Southern Land Company. 

“We remain proud of what we created with Novē at Knox and the lifestyles it offers residents in such a vibrant area of Dallas.”

Tim Downey

“This is a very well-appointed apartment complex with spectacular views, unmatched services and a highly desirable location,” said Madison Marceau, president of acquisitions at Kairoi. 

“We are pleased to participate in this transaction with KBS and Southern Land Company who have positioned this property for long-term success and to collaborate on another great investment with KKR.”

Gibson Dunn & Crutcher, LLP represented KKR and Kairoi on the purchase of Novē at Knox. Greenberg Traurig, LLP represented KBS and Southern Land Company as legal counsel in the disposition.

Madison Marceau

CONTACTS:

 

 

KKR Media Contact:

Miles Radcliffe-Trenner

(212) 750-8300

media@kkr.com

 

KBS Media Contacts:

Lexi Astfalk or Jenn Quader

Brower Group

(949) 438-6262

KBS@brower-group.com

 

Ginny Walker

KBS Public Relations Director

949-417-6535

gwalker@kbs.com

 

Southern Land Company Media Contact:

Jenna Lefever

SLC Public Relations Director

615-778-2182

Jenna.Lefever@southernland.com

  

 

Intracorp Breaks Ground on 178-Unit Luxury Multifamily Community in Irvine, CA

 Rendering of planned 2055 Main Street
apartments, Irvine, CA

 IRVINE, CA – Intracorp, one of North America’s largest developers of multifamily homes, has broken ground on a new 178-unit Class A apartment development at 2055 Main Street in the heart of the Irvine Business Complex (IBC) in Irvine, California.

 The project, Intracorp’s fourth development in the IBC, demonstrates the ability of local experienced developers to deliver extraordinary for-sale and for-rent properties in infill markets, according to Brad Perozzi, president of Intracorp’s Southern California division.

“Intracorp has an exceptional team that has built a reputation based on integrity, expertise and quality developments,” says  Perozzi.

Brad Perozzi

“We have a niche, boots-on-the-ground approach to development that enables us to move quickly on projects and add value from a unique perspective.

  "It also makes us a synergistic partner with large equity firms seeking innovative, seasoned development companies with a distinctive edge.”

 Located at 2055 Main on the corner of Main Street and Gillette Avenue, this will be Intracorp’s first for-rent multifamily development and fourth ground-up project in the IBC.

 “With three successful IBC townhome developments completed and our first IBC apartment community under development, Intracorp has a pulse on this market,” notes Perozzi.

  CONTACTS:

Elisabeth Manville / Lara Sassounian

Brower Group

(949) 438 -6262

emanville@brower-group.com

 Follow us on:

Facebook: facebook.com/intracorphomesca

Instagram: @intracorphomesca

 

IntracorpHomes.com

RKW RESIDENTIAL Announces Two New Regional Managers in South Florida

 

Chantal Renaud

Miami, FL (Oct. 18, 2021) - RKW Residential, one of the nation’s fastest-growing multifamily management firms, continues to expand its South Florida team with the addition of Sabrina DeLorme and the promotion of Chantal Renaud. Both are based in the firm’s Miami office. 

DeLorme, a new Regional Manager with RKW, brings 20 years of experience across the Florida and Georgia markets.

  In her new role, she oversees a portfolio of communities across South Florida. DeLorme’s extensive background in renovation management also complements the firm’s strategic oversight of value-add projects. 

 After starting her career with Trammell Crow Residential and continuing during its transition to Riverstone Residential, DeLorme served as Regional Supervisor for Fairfield Residential.

 

Sabrina DeLorme

Renaud, who is also based in South Florida, has more than 15 years of experience leading property operations for garden, mid-rise and high-rise assets.

 Her promotion to Regional Manager for RKW means Renaud oversees operations for a portfolio of communities throughout the region.

  Prior to the promotion, she oversaw the RKW-managed Seabourn Cove in Boynton Beach.

 Before joining RKW, Renaud worked with Greystar and Alliance Residential Group.

Johnny De La Espriella

 

“Sabrina and Chantal strengthen our growing team in South Florida,” RKW Senior Vice President – Operations Johnny De La Espriella said.

  “Their new roles come at a pivotal time for us, as our clients in the region continue to start new multifamily developments and pursue community acquisitions.”

 Founded just six years ago, RKW is one of the multifamily industry’s most compelling entrepreneurial success stories in recent memory.

 The company was recognized by Multi-Housing News as the nation’s third-fastest growing multifamily management company in the publication’s 2021 rankings. It also made MHN’s annual “Top Property Managers” list for the third consecutive year.

  CONTACT:

 Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 

www.rkwresidential.com.

 

 

 

 

Tauro Opens First Office in Greater Phoenix, AZ Area

Stephen Stein

 

 Phoenix, AZ— Tauro Capital Advisors, Inc., a fully integrated financial services company and fiduciary with a diverse background in capital markets of all aspects of commercial real estate, has announced its expansion into Arizona with the opening of its first office at 7014 East Camelback Road, Suite B100A, in Scottsdale.  

 This is Tauro’s first location outside of California.

 The firm is currently headquartered in Los Angeles and has additional offices in San Diego, Orange County, and Sacramento, according to Stephen Stein, Managing Partner at Tauro Capital Advisors.  

 “We have been rapidly expanding year-over-year and are on track to triple in size by the end of 2022,” says Stein.

  “A key reason for our continued growth is our team’s ability to source innovative and competitive debt and equity solutions for a range of clients, even during the economic uncertainty of the pandemic.”  

 

Richard (Rich) Perry

Tauro’s Phoenix office will be led by Lead Advisor, Rich Perry, Senior Advisor at Tauro Capital Advisors.  

 Perry says: “We are actively looking for advisors to join our Phoenix team. 

"Our new office will reinforce our commitment to recruiting talented and passionate individuals who want to be part of a supportive company culture that provides the resources and mentorship necessary for its professionals to seamlessly solve clients’ financing needs and challenges with integrity and transparency.” 

 CONTACT:

 Anthea Davis  

Brower Group 

(949) 981-7700 

andavis@brower-group.com  

 https://www.taurocapitaladvisors.com