Acquisition of 166-Unit Apartment Complex in Bradenton, Florida
April 20, 2017
Legacy Capital Partners invested $4.608 million in the acquisition and renovation of a 166-unit apartment complex located in Bradenton, Florida. The total project costs (including funds needed to complete the renovation) were $21.16 million. The asset was purchased with a $15.2 million 10 year loan with interest only for the first five years. The total equity requirement was $5.968 million.