Acquisition of 964-Unit Apartment Complex in Houston, TX
May 16, 2016
Legacy Capital Partners invested $5.0 million in the acquisition and renovation of a 964-unit apartment complex located in Houston, Texas. The total project costs (including funds needed to complete the renovation) were $87.01 million. The asset was purchased with a $65.0 million 10 year loan with interest only for the first four years. The total equity requirement was $22.01 million.