Calvera Partners, a San Francisco-based multifamily real estate investment firm, announced its acquisition of the 152-unit 27TwentySeven Apartment Homes in Dallas.
This acquisition is Calvera’s second acquisition in the Dallas-Fort Worth metro area and the first acquisition in its latest investment fund, the Calvera Income and Growth Fund. The financial terms of the transaction were not disclosed, and the company said it would provide the property with 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.”
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