June 20, 2013
- Multifamily for rent
- 320-unit market rate apartment complex
- Acquisition and renovation of a 320-unit garden style apartment complex located in Hoover, AL
- Investment closed in June 2012. The project was acquired with attractive terms.
- 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 33.9% IRR and a 1.81x equity multiple.