Elevest Capital Launched Dallas Multifamily Fund

The private equity fund for a 35-story high-rise targets a 15.6 percent internal rate of return for accredited investors.

Updated on Sept. 28, 2026 in Investing

Isometric editorial illustration of a tall glass-and-steel residential high-rise tower, representing a multifamily real estate investment fund. — Elevest Capital has initiated Fund 70 to acquire a 229-unit multifamily property in downtown Dallas for $42 million. AI Illustration. Upload story photo >

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Elevest Capital has initiated Fund 70 to acquire a 229-unit multifamily property in downtown Dallas for $42 million. The private equity offering requires a minimum investment of $200,000.

Why it matters

The fund targets a preferred return of 8 percent, backed by a property that has sustained over 90 percent occupancy for a decade. This move provides a new investment vehicle for those seeking exposure to the downtown high-rise rental market.

The fund is backed by $19.1 million in equity for a $42 million asset with a 93 percent occupancy rate. Investors are eyeing a 15.6 percent projected internal rate of return and an 8 percent preferred return.

The players

Elevest Capital

A Scottsdale-based investment firm that manages private equity real estate offerings.

The details

The firm is financing the acquisition of the 35-story property through this private equity structure. Investors participating in the fund look to benefit from the building's historical stability, as it has maintained above 90 percent occupancy for the past 10 years without offering rental concessions in the last year. The fund anticipates a hold period of two to five years before the planned sale of the asset.

The multifamily property was constructed in 2007.
The building maintained over 90 percent occupancy for the past 10 years.
Zero rental concessions were offered during the past 12 months.
Monthly cash flow distributions are expected to start 60 to 90 days after closing.
The anticipated hold period for the property is two to five years.

Money Landscape

This acquisition follows a long-standing trend of institutional investors targeting properties with proven occupancy stability. It marks a continued focus on established high-rise assets within the Dallas urban core.

Investors considering this vehicle should evaluate the minimum $200,000 threshold and the projected two-to-five-year hold period. Consult with a qualified financial advisor to determine how this private equity concentration fits within your broader portfolio risk profile.

The takeaway

The fund leverages a high-occupancy asset to target a 15.6 percent internal rate of return for investors. Potential participants should review the fund's private placement memorandum with a financial professional to understand the liquidity constraints of a multi-year hold.