Acquisition of 446-bed (149-unit) purpose-built student housing complex in Savannah, GA
December 18, 2015
Legacy Capital Partners invested $8.0 million in the acquisition of a 446-bed (149-unit) student housing complex located in Savannah, Georgia serving the Savannah College of Art and Design (SCAD). The total project costs were $44.2 million. The asset was purchased with a $31.1 million 10 year loan with interest only for the first 3 years. The total equity requirement was $13.1 million.