Daniel Hughes Of Envolve Communities Acquires Crestwood Apartments In St. Cloud For $34.3M

The transaction involved the acquisition of Crestwood Apartments, a multifamily property located at 3121 Crestwood Circle in St. Cloud. The property encompasses a total of 216 units and was sold for $34,300,000, equating to approximately $158,796 per unit. Envolve Communities has plans to invest an additional $12,000,000 in upgrades to enhance the asset located near Orlando.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $34,300,000
• Units: 216
• Price Per Unit: $158,796
• Buyer: Daniel Hughes - Envolve Communities

Envolve Communities acquired Crestwood Apartments from an undisclosed seller, indicating a continuing trend of value-add multifamily investments in growing markets. Daniel Hughes represents Envolve Communities in this transaction.