Acquisition of a 304 Unit Portfolio in St Mary’s County, Maryland
November 14, 2018
Legacy Capital Partners invested $1,183,000 as a Co-GP in the acquisition and renovation of a rental unit portfolio consisting of a 144 unit apartment community and a 160 unit townhome complex located in St Mary’s County, Maryland. The total project costs (including funds needed to complete the renovation and lease-up) were $48.77 million. The assets were purchased with two existing fixed rate loans totaling $32.1 million. The total equity requirement was $16.67 million.