DALLAS, TX - Elevest Capital, a Scottsdale-based private equity firm focused on passive multifamily real estate investing, announced the launch of Fund 70, a 229 unit, 35 story high-rise apartment community in an A+ location in Downtown Dallas, Texas.
Built in 2007, the property has maintained 90%+ physical occupancy for the past 10 years and is currently 93% occupied, with no rental concessions offered over the past 12 months.
"Fund 70 is exactly the kind of asset we look for: a well-located, well-occupied property with a track record of stability," said Adam Williams, Founder and CEO of Elevest Capital. "Buying at a 6.4% cap rate in an A+ downtown location is rare, and it's the highest going-in cap rate we've ever purchased across all of our funds. For our investors, that means a strong starting point for both cash flow and long-term appreciation."
The property is being acquired for $42 million, with approximately $19.1 million in total equity. Targeted terms include an 8.0% preferred return, 85/15 LP/GP split, 15.6% projected IRR, 2.01x projected equity multiple, and 4.0% targeted average cash flow.
The anticipated hold period is two to five years, with a projected 5.25% exit cap rate and a $200,000 minimum investment. Monthly cash flow distributions are anticipated to begin 60 to 90 days after closing.
Elevest Capital is a private equity firm helping busy professionals and accredited investors build wealth through passive ownership of institutional-quality multifamily real estate. Guided by its tagline, "Real Estate Investing... Simplified," the firm focuses on disciplined capital allocation and long-term investor relationships. Elevest Capital completed nine multifamily acquisitions in 2025, and Fund 70 represents its sixth offering of 2026.