Calvera Partners, a San Francisco-based multifamily real estate investment firm, recently acquired 27TwentySeven Apartment Homes in Dallas, TX. This purchase is Calvera's second acquisition in the Dallas-Fort Worth metro (DFW) and the first acquisition in its latest investment fund, the Calvera Income and Growth Fund.
SAN FRANCISCO, June 11, 2024 /PRNewswire-PRWeb/ -- Calvera Partners, a San Francisco-based multifamily real estate investment firm, recently acquired 27TwentySeven Apartment Homes in Dallas, TX. This purchase is Calvera's second acquisition in the Dallas-Fort Worth metro (DFW) and the first acquisition in its latest investment fund, the Calvera Income and Growth Fund.
The 152-unit boutique property is in a core Dallas location near the Medical District, Uptown, and Dallas Love Field, and minutes from popular shopping destinations, restaurants, and entertainment. Constructed in 2016, the property features custom unit finishes that include hardwood-style flooring, stainless steel appliances, and granite countertops with under-mount sinks. The property is slated to receive strategic updates to common areas and tenant amenities.
"We are excited to increase our presence in DFW, a core growth market. 27TwentySeven is an opportunity to purchase a recent vintage property on an attractive basis," said Calvera Managing Principal Brian Chuck. "With values that are down 20-30% from peak levels, and transaction volume muted, we are pleased to acquire a well-located, quality asset at a steep pricing discount."
27TwentySeven represents the first investment by Calvera's latest fund, the Calvera Income and Growth Fund. The new fund is structured as a perpetual "evergreen" investment vehicle allowing Calvera to take a long-term approach to multifamily investment opportunities, and offer accredited investors with consistent cash flow, greater tax efficiencies, and more flexible exit options.
ABOUT CALVERA PARTNERS
Calvera is led by Managing Principals Brian Chuck, Brian Milovich, and David Saxe, all of whom previously worked for a ~$30 billion AUM institutional real estate fund manager where they were involved in over $1 billion of real estate transactions. Through its series of funds and individual acquisitions, Calvera has invested approximately $85 million of investor equity in 16 multifamily real estate transactions representing approximately 1,300 apartment units in four states and $200 million of value. For more information about Calvera Partners, call 844.322.7900 or visit https://calverapartners.com/.
Media Contact
David Saxe, Calvera Partners, 1 (415)765-7239, [email protected], www.calverapartners.com
SOURCE Calvera Partners
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