Legacy Source News Today : Breaking News, Live Updates & Top Stories | Vimarsana

MOBILE, AL - Legacy Capital Partners, a Cleveland, OH-based national real estate investor firm, together with Morrison Avenue Capital Partners, a Tampa, FL-based real estate owner and operator, have formed a joint venture and announced they have acquired Timber Ridge Apartments, a 1998-vintage, 320-unit apartment community in Mobile, Alabama. The property is located within 2 miles of the University of South Alabama and Providence Hospital, a major health care system in Mobile.  Legacy and Morrison Avenue have acquired Timber Ridge as part of their value-add strategy and plan to increase cash flow and value through the execution of interior upgrades for all 320 units, exterior and amenity improvements. As a part of the value-add strategy the joint venture will immediately address the property s deferred maintenance issues which include bringing a small number of down units back online. 

Timber ridgeUnited statesUniversity of south alabamaProvidence hospitalLegacy capital partnersMorrison avenue capital partners acquireUnit timber ridge apartment communityCapital partnersMorrison avenue capital partnersTimber ridge apartmentsSouth alabamaMorrison avenueManaging directorLegacy sourceMorrison avenue capitalApartment real estate multifamily