Acquisition of 250-Unit Apartment Complex in Atlanta, GA
July 30, 2012
Legacy Capital Partners invested $3.3 million in the acquisition and renovation of a 250-unit garden style apartment complex located the Clayton/Henry submarket of Atlanta, Georgia. The total project costs (including funds needed to complete the renovation and lease-up) were $16.2 million. The asset was purchased with a $12.05 million fixed rate loan with a term of 10 years. The total equity requirement was $4.125 million.