Acquisition of 235-Unit Apartment Complex in Newnan, GA
September 3, 2015
Legacy Capital Partners invested $7.16 million in the acquisition and renovation of a 235-unit apartment complex located in Newnan, Georgia. The total project costs (including funds needed to complete the renovation) were $27.55 million. The asset was purchased with a $18.6 million 10 year loan with a fixed rate for the first 7 years. The total equity requirement was $8.95 million.