Archives
Waters Pointe
June 20, 2013
Multifamily for rent 198-unit market rate apartment complex. Acquisition and re-positioning of an existing waterfront complex on Boca Siega Bay Investment closed in February 2010. The property was a failed condo-conversion project that was purchased out of foreclosure and was 100% vacant at the time of acquisition. The project sold in December 2010 and Legacy’s [...]
Multifamily for rent 182-unit market rate apartment complex. Acquisition and re-positioning of an existing complex in Clearwater, FL Investment closed in February 2011. The project was acquired in an off-market transaction from the local housing authority. The project sold in August 2013 to a REIT and Legacy received OP Units. The OP Units were liquidated [...]
Multifamily for rent 224-unit market rate apartment complex. Acquisition and re-positioning of an existing complex in Melbourne, Fl Investment closed in June 2011. The project was acquired from the lender. The project sold in August 2013 to a REIT and Legacy received OP Units. The OP Units were liquidated in October 2014 and Legacy’s investment ultimately [...]
Multifamily for rent 504-unit (1,488 bed) student housing apartment complex Ground-up development at the University of Florida Investment in Phase I closed in June 2005. The project was built in two phases (Phase II closed in September 2006) and sold as a part of a multi-property portfolio in November 2007. Legacy’s investment realized a 45% [...]
Multifamily for rent 240-unit market rate apartment complex Acquisition and re-positioning of an existing apartment complex near AIA in Ponte Vedra Beach, FL Investment closed in October 2005. The project was acquired prior to the economic downturn and the property was not able to achieve its proforma. The lender took possession of the asset in [...]
Multifamily for rent 390-unit market rate apartment complex Acquisition and re-positioning of an existing apartment complex in Jacksonville, FL Investment closed in October 2005. The project was acquired prior to the economic downturn and was not able to achieve its proforma prior to being sold in November 2012. The short sale was required by the [...]