$3.3 Million Acquisition/Renovation: 438-Unit Multi-Family Complex in Florida
February 11, 2010
Legacy Capital Partners invested $3.3 million in the acquisition, renovation and repositioning of a 438-unit multi-family complex in the Northdale/ Carrollwood submarket (northwest suburb) of Tampa, FL. The total project cost (including funds needed for the renovation) was $26.85 million. The acquisition was financed with a Fannie Mae loan in the amount of $19.25 million. The total equity requirement was $7.6 million.