Acquisition of Four Property Apartment Portfolio in New Orleans, Louisiana
February 7, 2018
Legacy Capital Partners invested $7.08 million in the acquisition and renovation of four garden style apartment communities located in Metairie, New Orleans, Louisiana. The total project costs (including funds needed to complete the renovation and lease-up) were $41.3 million. The assets were purchased with a $32.25 million variable rate loan with interest only for the first three years of the term. The total equity requirement was $9.05 million.