{"id":69147,"date":"2020-09-14T18:10:00","date_gmt":"2020-09-14T18:10:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2727518"},"modified":"2020-09-14T18:10:00","modified_gmt":"2020-09-14T18:10:00","slug":"elevation-sells-montgomery-multifamily-townhome-property","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2020\/09\/14\/elevation-sells-montgomery-multifamily-townhome-property\/","title":{"rendered":"Elevation Sells Montgomery Multifamily Townhome Property"},"content":{"rendered":"<p><img decoding=\"async\" width=\"200\" height=\"79\" src=\"https:\/\/icrowdnewswire.com\/wp-content\/uploads\/2020\/09\/4000-1-14.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"\" loading=\"lazy\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" \/><\/p>\n<div class=\"row\">\n<div class=\"col-sm-10 col-sm-offset-1\">\n<p><strong>&nbsp;<\/strong>Elevation Financial Group, a provider of senior and multifamily affordable housing, announces the disposition of Elevation Real Property Fund V asset, Serenity Townhomes at Montgomery. The 192-unit multifamily community sold for&nbsp;<span class=\"xn-money\">$6.9 million<\/span>&nbsp;and represents the disposition of the final asset in Fund V.<\/p>\n<\/div>\n<div class=\"col-sm-10 col-sm-offset-1\">\n<div class=\"gallery inline-carousel\">\n<div class=\"gallery-carousel-main flickity-enabled is-draggable\">\n<div class=\"flickity-viewport\">\n<div class=\"flickity-slider\">\n<div class=\"gallery-cell is-selected\">\n<figure>\n<div class=\"image lightbox-item \" data-src=\"https:\/\/mma.prnewswire.com\/media\/1252100\/Elevation_Financial_Group_1.jpg?p=publish\" data-asset-type=\"photo\" data-tweet-text=\"(PRNewsfoto\/Elevation Financial Group, LLC)\" data-asset-label=\"General\" data-twitter-share-url=\"https:\/\/mma.prnewswire.com\/media\/1252100\/Elevation_Financial_Group_1.jpg?p=twitter\" data-facebook-share-text=\"(PRNewsfoto\/Elevation Financial Group, LLC)\" data-facebook-share-url=\"https:\/\/mma.prnewswire.com\/media\/1252100\/Elevation_Financial_Group_1.jpg?p=facebook\" data-linkedin-text=\"(PRNewsfoto\/Elevation Financial Group, LLC)\" data-linkedin-share-url=\"https:\/\/mma.prnewswire.com\/media\/1252100\/Elevation_Financial_Group_1.jpg?p=linkedin\" data-social-source=\"PR Newswire\" data-download-url=\"https:\/\/mma.prnewswire.com\/media\/1252100\/Elevation_Financial_Group_1.jpg?p=publish\" data-sub-html=\"(PRNewsfoto\/Elevation Financial Group, LLC)\"><img decoding=\"async\" class=\"img-responsive carousel-item\" src=\"https:\/\/mma.prnewswire.com\/media\/1252100\/Elevation_Financial_Group_1.jpg?p=publish&amp;w=950\" alt=\"\" \/><\/div><figcaption>(PRNewsfoto\/Elevation Financial Group, LLC)<\/figcaption><\/figure>\n<\/div>\n<div class=\"gallery-cell\">\n<figure>\n<div class=\"image lightbox-item \" data-src=\"https:\/\/mma.prnewswire.com\/media\/1252099\/Elevation_Financial_Group_2.jpg?p=publish\" data-asset-type=\"photo\" data-tweet-text=\"(PRNewsfoto\/Elevation Financial Group, LLC)\" data-asset-label=\"General\" data-twitter-share-url=\"https:\/\/mma.prnewswire.com\/media\/1252099\/Elevation_Financial_Group_2.jpg?p=twitter\" data-facebook-share-text=\"(PRNewsfoto\/Elevation Financial Group, LLC)\" data-facebook-share-url=\"https:\/\/mma.prnewswire.com\/media\/1252099\/Elevation_Financial_Group_2.jpg?p=facebook\" data-linkedin-text=\"(PRNewsfoto\/Elevation Financial Group, LLC)\" data-linkedin-share-url=\"https:\/\/mma.prnewswire.com\/media\/1252099\/Elevation_Financial_Group_2.jpg?p=linkedin\" data-social-source=\"PR Newswire\" data-download-url=\"https:\/\/mma.prnewswire.com\/media\/1252099\/Elevation_Financial_Group_2.jpg?p=publish\" data-sub-html=\"(PRNewsfoto\/Elevation Financial Group, LLC)\"><img decoding=\"async\" class=\"img-responsive carousel-item\" src=\"https:\/\/mma.prnewswire.com\/media\/1252099\/Elevation_Financial_Group_2.jpg?p=publish&amp;w=950\" alt=\"\" \/><\/div><figcaption>(PRNewsfoto\/Elevation Financial Group, LLC)<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<p><button class=\"flickity-prev-next-button previous\" disabled=\"disabled\" type=\"button\"><\/button><button class=\"flickity-prev-next-button next\" type=\"button\"><\/button><\/div>\n<div class=\"gallery-carousel-nav flickity-enabled is-draggable\">\n<div class=\"flickity-viewport\">\n<div class=\"flickity-slider\"><img decoding=\"async\" class=\"img-responsive is-nav-selected is-selected\" src=\"https:\/\/mma.prnewswire.com\/media\/1252100\/Elevation_Financial_Group_1.jpg\" alt=\"(PRNewsfoto\/Elevation Financial Group, LLC)\" \/><img decoding=\"async\" class=\"img-responsive\" src=\"https:\/\/mma.prnewswire.com\/media\/1252099\/Elevation_Financial_Group_2.jpg\" alt=\"(PRNewsfoto\/Elevation Financial Group, LLC)\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-sm-10 col-sm-offset-1\">\n<p>Purchased in 2015 for&nbsp;<span class=\"xn-money\">$3.45 million<\/span>, Serenity Townhomes saw a substantial turnaround and revitalization during the five-year Elevation ownership. Upon initial purchase, the property was less than 40% occupied with countless deteriorated units and neglected grounds. The Elevation team recognized that the unit sizes and two-story floorplans were some of the largest in the portfolio and knew that a strategic, well-thought plan was necessary. After significant value-add enhancements, Serenity Townhomes had achieved 92% occupancy as of the sale date.<\/p>\n<\/div>\n<div class=\"col-sm-10 col-sm-offset-1\">\n<p>&#8220;I&#8217;m so proud of the work our team at Elevation did to bring a struggling affordable housing community back to life for the people of Montgomery,&#8221; said&nbsp;<span class=\"xn-person\">Chris King<\/span>, CEO of Elevation Financial Group.<\/p>\n<p>While executing massive updates to the units, clubhouse, office, exterior and amenities, the Elevation team also learned that a local volunteer group had been meeting at the property to tutor children in the community. Once the team saw the room and sparse resources, they immediately realized that the volunteers and students needed much more to be successful. A new fully equipped tutoring room was quickly delivered, complete with the tools to effectively reach the school-aged children at Serenity Townhomes and the surrounding area.<\/p>\n<p>Since inception, Fund V delivered over 1,000 affordable housing units to families and seniors throughout three states, including&nbsp;<span class=\"xn-location\">Louisiana<\/span>,&nbsp;<span class=\"xn-location\">Alabama<\/span>, and&nbsp;<span class=\"xn-location\">South Carolina<\/span>. Through Elevation&#8217;s subsequent funds, VI and VII, the company owns and operates quality, affordable multifamily and senior communities throughout eight states.<\/p>\n<p><strong>About&nbsp;Elevation<br class=\"dnr\" \/><\/strong><em>Elevation Financial Group, LLC, a real estate private equity company, leads an award-winning group of companies with a focus and mission to acquire, revitalize and operate affordable apartment communities for independent seniors and families. As a private equity company, Elevation raises capital through private placements to accredited investors and maintains a commitment to low or no loads on capital raised. Through a consortium of companies specializing in real estate investment, property management and property renovation, Elevation aspires to deliver superior financial returns to its shareholders while making a positive and distinctive impact on the communities served.<\/em><\/p>\n<p><strong>Media Contact:<br class=\"dnr\" \/><\/strong><span class=\"xn-person\">Ben Friedman<\/span><br class=\"dnr\" \/>bfriedman@elevationfinancialgroup.com<\/p>\n<\/div>\n<\/div>\n<p class=\"tags\">\n<div><strong>See Campaign: <\/strong><a href=\"http:\/\/elevationfinancialgroup.com\" target=\"_blank\">http:\/\/elevationfinancialgroup.com<\/a><br \/><b>Contact Information:<\/b><br \/>Ben Friedman<br \/>\nbfriedman@elevationfinancialgroup.com<\/p>\n<p><b>Tags:<\/b><br \/><a href=\"\"><\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/news-category\/wire\/\" rel=\"category tag\">Wire<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/news-category\/wire-real-estate\/\" rel=\"category tag\">Wire Real Estate<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/global-regions\/united-states\/\" rel=\"category tag\">United States<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/language\/english\/\" rel=\"category tag\">English<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"\" alt=\"image\" width=\"400\" height=\"300\" class=\"cwdfimg\" \/><\/div>\n<div>\n<h3>Contact Information:<\/h3>\n<p>Ben Friedman<br \/>\nbfriedman@elevationfinancialgroup.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"79\" src=\"https:\/\/icrowdnewswire.com\/wp-content\/uploads\/2020\/09\/4000-1-14.jpg\" alt=\"\">&nbsp;Elevation Financial Group, a provider of senior and multifamily affordable housing, announces the disposition of Elevation Real Property Fund V asset, Serenity Townhomes at Montgomery. The 192-unit multifamily community sold for&nbsp;$6.9 million&nbsp;and represents the disposition of the final asset in Fund V. (PRNewsfoto\/Elevation Financial Group, LLC) (PRNewsfoto\/Elevation Financial Group, LLC) Purchased in 2015 for&nbsp;$3.45 million, &hellip; <a href=\"https:\/\/icrowdnewswire.com\/2020\/09\/14\/elevation-sells-montgomery-multifamily-townhome-property\/\">Continue reading <span>Elevation Sells Montgomery Multifamily Townhome Property<\/span><\/a> <a href=\"https:\/\/ipsnews.net\/business\/2020\/09\/14\/elevation-sells-montgomery-multifamily-townhome-property\/\" class=\"more-link\">Continue Reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":46,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,22,54,18],"tags":[],"class_list":["post-69147","post","type-post","status-publish","format-standard","hentry","category-english","category-united-states","category-wire","category-wire-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Elevation Sells Montgomery Multifamily Townhome Property - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipsnews.net\/business\/2020\/09\/14\/elevation-sells-montgomery-multifamily-townhome-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elevation Sells Montgomery Multifamily Townhome Property - Business\" \/>\n<meta property=\"og:description\" content=\"&nbsp;Elevation Financial Group, a provider of senior and multifamily affordable housing, announces the disposition of Elevation Real Property Fund V asset, Serenity Townhomes at Montgomery. The 192-unit multifamily community sold for&nbsp;$6.9 million&nbsp;and represents the disposition of the final asset in Fund V. (PRNewsfoto\/Elevation Financial Group, LLC) (PRNewsfoto\/Elevation Financial Group, LLC) Purchased in 2015 for&nbsp;$3.45 million, &hellip; Continue reading Elevation Sells Montgomery Multifamily Townhome Property Continue Reading &rarr;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ipsnews.net\/business\/2020\/09\/14\/elevation-sells-montgomery-multifamily-townhome-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Business\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-14T18:10:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/icrowdnewswire.com\/wp-content\/uploads\/2020\/09\/4000-1-14.jpg\" \/>\n<meta name=\"author\" content=\"Asiya\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Asiya\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ipsnews.net\/business\/2020\/09\/14\/elevation-sells-montgomery-multifamily-townhome-property\/\",\"url\":\"https:\/\/ipsnews.net\/business\/2020\/09\/14\/elevation-sells-montgomery-multifamily-townhome-property\/\",\"name\":\"Elevation Sells Montgomery Multifamily Townhome Property - 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