Acquisition of 252-Unit Apartment Complex in Lebanon, NH
July 9, 2014
Legacy Capital Partners invested $5.2 million in the acquisition and renovation of a 252-unit garden style apartment complex located in Lebanon, New Hampshire. The total project costs (including funds needed to complete the renovation and lease-up) were $41.94 million. The asset was purchased with a $33 million fixed rate loan with a term of 10 years. The total equity requirement was $8.94 million.