Acquisition of Two Apartment Complexes in Orange Park, FL
February 28, 2013
Legacy Capital Partners invested $7.1 million in the acquisition and renovation of two garden style apartment complexes located in Orange Park, Florida. The total project costs (including funds needed to complete the renovation and lease-up) were $52.3 million. The assets were purchased with $35.625 million fixed rate loans with 10 year terms. The total equity requirement was $16.632 million.