Acquisition of 190-unit Apartment Complex in Norfolk, Virginia
January 30, 2023
Legacy Capital Partners invested $11.509 million in the acquisition of an apartment complex located in Norfolk, Virginia. The total project costs were $31.3 million. The asset was purchased with a $17.76 million fixed rate loan with interest only for the first five years of the 10-year term. The total equity requirement was $13.54 million.