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June 16, 2024
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Calvera Partners buys 192-Unit Multifamily Property in Forth Worth, TX


Calvera Partners recently acquired Saddlehorn Vista Apartments in Fort Worth, TX. This purchase is Calvera's first acquisition in the Dallas-Fort Worth metro (DFW) and the final acquisition in its third value-add investment fund, the Multifamily Transformation Fund. The price was not disclosed.

The 192-unit, garden-style property is located at 2925 W. Normandie St,about 10 miles west of downtown Fort Worth with easy access to Interstates 820 and 30 and multiple employment hubs. Constructed in 1986, the property will be rebranded with new signage and will receive refreshed landscaping and common areas.

According to Calvera Managing Principal Brian Chuck, they were able to buy the property at a healthy discount to pricing from a year ago in a city that is the fastest growing city in America.

Saddlehorn Vista represents the fourth and final investment by the Multifamily Transformation Fund. Including Saddlehorn Vista, the fund has acquired assets in Austin and Fort Worth, TX, Carrboro (Chapel Hill), NC, and Oakland, CA, with a total capitalization of approximately $113 mil. With the current fund now fully invested, Calvera is focused on its recently launched 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.

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