#United States #Dallas #Elevest Capital #Fund 70

Elevest Capital Launches Fund 70

Elevest Capital, a prominent private equity firm based in Scottsdale, has recently announced the inception of its latest investment vehicle, Fund 70. This fund is marked by the acquisition of a remarkable high-rise apartment building situated in the heart of Downtown Dallas, Texas. This project boasts 229 units spread over 35 stories and represents a notable milestone in the firm’s portfolio.

Overview of the Project

Founded with a focus on passive multifamily real estate investments, Elevest Capital chose this property due to its exceptional location and historical occupancy rates. Built in 2007, the structure has consistently maintained a physical occupancy of over 90 percent for the last decade and currently boasts a 93 percent occupancy rate, with no rent concessions made in the last year.

Adam Williams, the founder and CEO of Elevest Capital, expressed enthusiasm over the acquisition, stating, “Fund 70 is exactly the kind of asset we look for: a well-located, well-occupied property with a track record of stability.” He emphasized that this investment, with a 6.4 percent cap rate, is one of the highest among all funds managed by Elevest Capital thus far, which enhances its attractiveness to potential investors.

Financial Highlights

The total acquisition cost of the property amounts to $42 million, with approximately $19.1 million earmarked for equity. The fund presents an impressive projected financial outlook, including an 8.0% preferred return, an 85/15 Limited Partner/General Partner split, a projected internal rate of return (IRR) of 15.6%, and a 2.01x equity multiple. Additionally, investors can expect a targeted average cash flow of 4.0%.

With an estimated hold period ranging from two to five years, the fund aims for a projected exit cap rate of 5.25%. The minimum investment requirement for prospective investors is $200,000, with cash flow distributions anticipated to commence between 60 to 90 days following the closing of the transaction.

Elevest Capital's Growth Journey

Elevest Capital has been on a growth trajectory, having completed nine multifamily acquisitions in the previous year alone. Fund 70 marks the sixth offering from the firm in 2026, underscoring its commitment to expanding its influence in the multifamily real estate market. Following its mission to simplify the real estate investing process for busy professionals and accredited investors, Elevest Capital continues to focus on disciplined capital allocation and fostering long-term relationships with its investors.

For more information about Elevest Capital and its investment opportunities, visit elevestcapital.com.

Conclusion

As the real estate market in Dallas continues to thrive, Fund 70 represents a strategic investment opportunity with a strong foundation. Elevest Capital’s commitment to acquiring prime assets in prime locations positions it well for future growth, benefiting both investors and the community at large.