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Acquisition of 182-Unit Apartment Complex in Clearwater, FL
February 11, 2011

Legacy Capital Partners invested $1.2 million in the acquisition and renovation of a 182-unit apartment complex in Clearwater, Florida. The total project costs (including funds needed to complete the renovation and lease-up) were $8.7 million. The asset was purchased with a 26-month term conventional loan of $6.1 with an option to extend the term for an additional 24 months. The total equity requirement was $2.6 million.

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