Acquisition of 224-Unit Apartment Complex in Macon, GA
December 8, 2014
Legacy Capital Partners invested $4.45 million in the acquisition and renovation of a 224-unit garden style apartment complex located in Macon, Georgia. The total project costs (including funds needed to complete the renovation and lease-up) were $22.21 million. The asset was purchased with a $15.86 million fixed rate loan with a term of 10 years. The total equity requirement was $6.35 million.