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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.

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