Knightvest Adds a 230-Unit Vintage Multifamily Asset to Growing Orlando Portfolio

Features January 30, 2026| | Amy Wolff Sorter

Knightvest Capital expanded its Orlando, FL presence with its recent acquisition of the 230-unit Heritage Estates. The Dallas buyer shook hands with CenterSquare Investment Management in Pennsylvania to close the transaction; the new owner has already rebranded the property as The Palmer Apartments. The deal brings Knightvest’s Orlando-area portfolio to 1,535 units.

JLL brokered the transaction and secured financing for the buyer. The sales price on the 2003-built property at 11701 Heritage Estates Ave. was undisclosed.

Knightvest’s Managing Director, Acquisitions, Jason Dallas, told ApartmentBuildings.com that the property was an ideal candidate for upgrades and rebranding. Additionally, “The Palmer is the perfect addition to the Knightvest portfolio, as it reflects our continued strategy of targeting high-quality real estate from the early 2000s with a value-add story where we can renovate to compete with new construction,” Dallas said. The owner plans to hold the asset for five years, depending on marketing conditions.

The new owner’s rehab plans for The Palmer include interior and exterior improvements, as well as the addition of a 9,000-square-foot clubhouse and fitness center. Dallas said that the property is almost impossible to replicate due to its low-density setting, larger unit sizes averaging 1,158 square feet, direct entries and zoning for desirable public schools.

Because of the property’s upsides, the bid process was highly competitive, “with multiple interested parties competing for the deal at the very end,” Dallas commented. “Knightvest won out, based on our reputation, certainty of close and prior transaction experience with CenterSquare.”

Knightvest’s Orlando holdings include the 326-unit Steelhouse (750 N. Orange Ave.), the 272-unit Dawson (9000 Summit Centre Way) and the 375-unit Ridley on Main (733 Main Lane). The metro’s appeal is its job and population growth. “We’d like to find another deal or two in Orlando to build scale in the market,” Dallas said.

The Palmer offers one-, two- and three-bedroom units; occupancy at closing was 93%. Community amenities include a grilling station, a dog park and grooming station, a resort-style pool and Spruce Lifestyle Services. The complex is in East Orlando and is close to major employment hubs, including Lockheed Martin, the University of Central Florida, Lake Nona, and the Orlando International Airport. The Palmer offers good access to State Highways 417 and 408.

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Knightvest Adds a 230-Unit Vintage Multifamily Asset to Growing Orlando Portfolio

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Brokers

Remax Professionals

Jared Ennis

Rick Recckio

Eamonn McConnell

Lenders

Management

Essex Property Trust, Inc.

Josh A

Bob Tuteur

Andrew Schildcrout