Acquisition of 180-Unit Apartment Complex in Norcross, GA
March 28, 2013
Legacy Capital Partners invested $3.0 million in the acquisition and renovation of a 180-unit garden style apartment complex located Norcross, Gwinnett County, Georgia. The total project costs (including funds needed to complete the renovation and lease-up) were $12.36 million. The asset was purchased with a $8.6 million fixed rate loan with a term of 10 years. The total equity requirement was $3.76 million.