Acquisition of 522-Unit Apartment Complex in Ocoee, FL
July 31, 2013
Legacy Capital Partners invested $5.0 million in the acquisition and renovation of a 522-unit garden style apartment complex located Ocoee, Florida (approximately 10 miles west of downtown Orlando). The total project costs (including funds needed to complete the renovation and lease-up) were $38.66 million. The asset was purchased with a $26.1 million fixed rate loan with a term of 7 years. The total equity requirement was $12.56