Elevest Capital Acquires 229-Unit Dallas High-Rise in Fund 70
Scottsdale-based Elevest Capital launches its 70th fund with a downtown Dallas multifamily acquisition boasting its highest cap rate to date.
Elevest Capital, a Scottsdale, Arizona-based private equity firm specializing in passive multifamily real estate investment, has launched Fund 70, its latest offering centered on a 229-unit high-rise apartment property in downtown Dallas, the company announced Sept. 28, 2026.
The acquisition carries a 6.4% going-in capitalization rate, which the firm says is the highest recorded across all of its funds since inception — a notable benchmark for a market where compressed cap rates have been a persistent challenge for multifamily investors in recent years.
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The deal marks the firm's 70th acquisition and reflects continued investor appetite for large-scale urban multifamily assets, particularly in Sun Belt metros like Dallas that have attracted sustained population and job growth. Downtown Dallas has remained a focus for multifamily developers and institutional buyers seeking density, walkability, and proximity to employment centers.
For passive investors, a higher going-in cap rate generally signals stronger initial income relative to purchase price, potentially improving cash-on-cash returns in the early years of a hold period. Elevest Capital structures its offerings around passive participation, targeting individuals seeking real estate exposure without direct property management responsibilities.
The launch of Fund 70 underscores the firm's active deal pace and its focus on value-oriented acquisitions in competitive institutional markets. Continue reading at Real Estate.
