Acquisition of 354-Unit Apartment Complex in Atlanta, GA
September 30, 2016
Legacy Capital Partners invested $6.9 million in the acquisition and renovation of a 354-unit apartment complex located in Atlanta, Georgia. The total project costs (including funds needed to complete the renovation) were $30.57 million. The asset was purchased with a $21.9 million 10 year loan with interest only for the first four years. The total equity requirement was $8.64 million.