The Fund Expands into Dallas–Fort Worth with the Acquisition of Evolv Apartment Homes

Our latest acquisition brings the Fund’s portfolio to three communities and 790 suites across metro Atlanta and Dallas–Fort Worth.

The Greybrook U.S. Multifamily Income & Growth Fund has completed its acquisition of Evolv Apartment Homes, a 334-suite garden-style community in Mansfield, Texas. It is the Fund’s third property, and it establishes Dallas–Fort Worth as our second core market, alongside metro Atlanta.

“Evolv reflects the investment discipline at the core of our strategy: an established, income-producing community in a growing market, acquired below replacement cost,” said Karl Brady, President, Greybrook Multifamily Inc. “With homeownership in Mansfield costing more than twice Evolv’s average rent, we expect demand for the property to remain durable. Dallas–Fort Worth, much like Atlanta, offers the population and employment growth that we believe underpins long-term rental demand. We also see meaningful potential to grow income through targeted improvements and active management.”

The Fund targets well-located, income-producing Class B communities at attractive entry points and seeks to enhance their value through active asset management. This approach is intended to support the Fund’s objective of monthly income distributions in U.S. dollars, while pursuing capital appreciation over the long term.

“Risk management begins with the acquisition price,” Karl added. “Pairing a compelling entry price with long-term fixed-rate financing means our strategy isn’t contingent on falling rates or outsized rent growth. And with elevated borrowing costs keeping home ownership out of reach for many households, we believe well-located rental communities in growth markets are well positioned.”

About Evolv

Built in 2012, on an 18.6-acre site, Evolv comprises nine three-storey buildings with suites averaging 894 square feet, complemented by amenities including a clubhouse, fitness centre, swimming pool, playground and pet park. The community is located approximately 25 miles southwest of Dallas and 20 miles southeast of Fort Worth, with direct highway access to employment centres across the Metroplex.

Why Dallas–Fort Worth

Dallas–Fort Worth is the fourth-largest metro area in the United States, home to more than eight million residents, and is forecasted to add approximately 51,000 jobs in 2026.¹ Rents in Dallas–Fort Worth are set by market conditions, and demand has held up through an exceptional construction cycle that delivered elevated supply between 2023 and 2025.² In the second quarter of 2026, the market absorbed approximately 12,000 units, nearly double the number delivered, and rent performance strengthened for a second consecutive quarter.³ Meanwhile, the development pipeline has contracted to roughly 43,300 units, 43% below its 2023 peak, and quarterly deliveries are at their lowest level since early 2023.³ For owners of established, well-located communities, moderating new supply and sustained demand provide a favourable backdrop for operating performance.

With acquisition of Evolv, the Fund’s portfolio now includes three communities and 790 suites. To learn more about the Greybrook U.S. Multifamily Income & Growth Fund, visit https://greybrook.com/us-multifamily-fund/.

 

^{(1) Metropolitan ranking and population: U.S. Census Bureau. Employment: Northmarq, Dallas–Fort Worth Multifamily Market Insights, Q2 2026, published 30 September 2026.
(2) CoStar, Dallas, TX Multifamily Market Report.
(3) Northmarq, Dallas–Fort Worth Multifamily Market Insights, Q2 2026, published 30 September 2026.}