Acquisition of Two Apartment Complexes in Decatur, GA
December 20, 2016
Legacy Capital Partners invested $5.08 million in the acquisition and renovation of two garden style apartment complexes located in Decatur, Georgia. The total project costs (including funds needed to complete the renovation and lease-up) were $30.45 million. The assets were purchased with a $24.1 million variable rate loan with interest only for the first three years of the term. The total equity requirement was $6.35 million.