Acquisition of 92-Unit Townhome Complex in Cranberry, Pennsylvania
December 29, 2017
Legacy Capital Partners invested $1.8 million in the acquisition and renovation of a 92-unit townhome tax-credit community located in Cranberry, Pennsylvania. The total project costs (including funds needed to renovate the project) were $8.2 million. The asset was purchased with a $5.8 million 7 year loan with interest only for the entire seven-year term. The total equity requirement was $2.4 million.