Acquisition of 168-Unit Apartment Complex in Little River (N. Myrtle Beach), South Carolina
August 1, 2017
Legacy Capital Partners invested $3.55 million in the acquisition and renovation of a 168-unit apartment complex located in Little River (N. Myrtle Beach), South Carolina. The total project costs (including funds needed to complete the renovation) were $17.24 million. The asset was purchased with a $12.8 million 12 year loan with interest only for the first three years. The total equity requirement was $4.44 million.