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Elevate Acquires Burleson Apartments for $160K/Unit
Elevate Commercial Investment Group acquired Camden Crossings, a 144-unit multifamily community in Burleson, Texas, just 15 minutes south of Fort Worth.
Elevate purchased the asset at a cost basis of $160,000 per unit ($23 million) and purchased from the original developer. The property benefits from an innovative financing structure. Elevate’s Jorge Abreu added, “With a stabilized cap rate of 7.6% and projected investor returns exceeding 17% IRR, we believe this asset will generate long-term value for our investors while enhancing the residential experience in Burleson.” In 2023, Summa Terra Ventures had the project on the market for $29 million.
Built in 2023, Camden Crossings is a Class A garden-style apartment community featuring modern amenities such as a swimming pool, a pickleball court, a dog park, and private balconies.
Burleson is a city in Johnson and Tarrant counties. A suburb of Fort Worth, the town had a 2024 census-estimated population of 57,625.
- ◦Sale/Acquisition
