Acquisition and re-position of an existing complex in Tampa’s Carrollwood sub-market
Investment closed in November 2010. The project was acquired in an off marketing transaction from an absentee distressed owner.
The project was sold in November 2013 to a REIT and Legacy received OP Units. The OP Units were liquidated in October 2014 and Legacy’s investment ultimately realized a 18.0% IRR and a 1.75x equity multiple.