Fund I

Legacy Suites

Tallahassee,

FL

Total Required Equity
$1,900,000
Asset type
Multifamily
Investment Objective
Value Add
Investment Date
June 2012
Realized IRR
8.45%
Realized Net Multiple
1.14x

Investment Summary

Legacy Suites was a 144-unit, 288-bed, Class B student housing property at Florida State University with only a short walk to campus and nightlife. The property was purchased at dramatically below peak pricing. Our business plan was to build new model units, a business office and a leasing center. Plus, upgrade the pool and other common areas with new furniture and more student-friendly surroundings.

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