Acquisition of 500-Unit Apartment Complex in Durham, North Carolina
March 15, 2018
Legacy Capital Partners invested $8.4 million in the acquisition and renovation of a 500-unit apartment complex located in Durham, North Carolina. The total project costs (including funds needed to complete the renovation) were $45.5 million. The asset was purchased with a $35.0 million 5-year interest only bridge loan. The total equity requirement was $10.5 million.