June 20, 2013
- 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 in October 2014 and Legacy’s investment ultimately realized a 19.5% IRR and a 1.67x equity multiple.