Elevest Capital Launched Dallas Multifamily Fund

The private equity firm has acquired a 35-story high-rise property in downtown Dallas for $42 million.

Updated on Sept. 28, 2026 in Investing

Isometric editorial illustration of a modern tiered residential high-rise building in a dense urban grid, representing real estate investment asset classes. — Elevest Capital has launched Fund 70 to acquire a 229-unit multifamily high-rise property in downtown Dallas for $42 million. AI Illustration. Upload story photo >

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Elevest Capital has launched Fund 70 to acquire a 229-unit high-rise apartment building located in downtown Dallas. The firm is backing the $42 million purchase with approximately $19.1 million in equity.

Why it matters

The acquisition targets a high-occupancy asset in a dense urban market, offering investors a projected internal rate of return of 15.6 percent. This fund provides a specific vehicle for real estate investors looking for exposure to the multifamily sector.

The fund targets an 8 percent preferred return for investors, supported by a property that has maintained over 90 percent physical occupancy for the past decade. The 35-story building currently reports a 93 percent occupancy rate with no recent rental concessions.

The players

Elevest Capital

This private equity firm based in Scottsdale specializes in multifamily real estate offerings.

The details

The investment vehicle, Fund 70, requires a minimum investment of $200,000 from participants. The property was originally constructed in 2007 and serves as the core asset for this private equity offering.

The property was originally completed in 2007.
The building maintained over 90 percent physical occupancy throughout the past 10 years.
No rental concessions were offered during the past 12 months.
Monthly cash flow distributions are scheduled to begin 60 to 90 days after closing.
The property has an anticipated hold period of two to five years.

Market Dynamics

This investment aligns with the historical occupancy threshold of 90 percent for urban Class A multifamily assets, which serves as a key indicator of asset stability in high-density downtown markets. By targeting an established high-rise, Elevest Capital positions itself within a competitive landscape focused on minimizing vacancy risks while seeking consistent preferred returns.

Retail and institutional investors with a $200,000 minimum threshold can participate in this equity offering for potential yield exposure. The project targets an 8 percent preferred return, providing a specific benchmark for portfolio income expectations.

The takeaway

The firm projects an equity multiple of 2.01x over the anticipated hold period of two to five years. Investors should note that monthly cash flow distributions are designed to start within three months of the closing date.