Acquisition of 250-unit Apartment Complex in Carrboro (Chapel Hill), North Carolina
November 1, 2019
Legacy Capital Partners invested $7.84 million in the acquisition and renovation of an apartment complex located in Carrboro (Chapel Hill), North Carolina. The total project costs (including funds needed to complete the renovation) were $43.014 million. The asset was purchased with a $33.214 million variable rate loan with interest only for the initial three-year term and the two 12-month extension options. The total equity requirement was $9.8 million.