Ocean Breeze
June 20, 2013
- 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 realized a 38.7% IRR and a 2.12x equity multiple.