Acquisition of Two Property Apartment Portfolio in Montgomery, Alabama
May 24, 2019
Legacy Capital Partners invested $7.35 million in the acquisition and renovation of two garden style apartment communities located in Montgomery, Alabama. The total project costs, including funds needed to complete the renovation, were $41.2 million. The assets were purchased with a $31.1 million fixed rate loan with interest only for the term of the loan. The total equity requirement was $10.1 million.