**SPI Advisory and FCP Acquire 600-Unit Multifamily Community in Lewisville, Texas**
SPI Advisory and FCP have announced the acquisition of Crest Manor Apartments, a 600-unit multifamily community situated in Lewisville, Texas.
Originally developed in two phases—first in 2010 and later in 2016—Crest Manor offers a variety of lifestyle amenities including two swimming pools, a large clubhouse and fitness center, tennis courts, and walking and jogging trails. The community features spacious one-, two-, and three-bedroom floor plans, with units averaging 933 square feet.
The acquisition was executed through the assumption of long-term HUD financing, featuring a favorable blended interest rate of 3.6% and more than 30 years of remaining term.
As part of their investment strategy, SPI Advisory and FCP plan to implement strategic upgrades to the community’s shared amenities and selectively modernize unit interiors. The improvements aim to better position Crest Manor alongside newer properties in the competitive Lewisville multifamily market.
