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Crescent Communities Sells Off Three Multifamily Assets for $170M

By Tony Seruga

CHARLOTTE, NC—Crescent Communities has sold three garden-style multifamily communities in Nashville, Charlotte, and in Tampa, FL, in a transaction valued at $170.6 million. The three properties have a combined total of 916 units, representing a sale price of $186,244 per unit.

Crescent Communities developed Crescent Cool Springs in Nashville, Crescent Alexander Village in Charlotte and Crescent Crosstown Properties in Tampa with joint venture partnerCNL Growth Properties, Inc.

“These transactions validate the continued appetite from investors seeking financially sustainable investments in real estate,” said Todd Mansfield, president and CEO of Crescent Communities.

Last year, Crescent sold a portfolio of multifamily communities across the Southeast for $700 million…

Crescent Communities Sells Off Three Multifamily Assets for $170M

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