ATLANTA—Commercial real estate assets across the Southeast are winning the confidence of investors. RADCO just inked more than $32 million in short-term floating-rate financing for multifamily assets in Atlanta and South Carolina and a portfolio of seven retail centers in North and South Carolina, Georgia, and Mississippi.
Cushman & Wakefield's Atlanta Equity, Debt & Structured Finance Group secured $32 million-plus so RADCO can acquire and execute capital improvement plans for Stanton Place Apartments near Atlanta and The Reserve at Ashley River in North Charleston, SC.
A regional bank provided financing for Stanton Place, a 240-unit garden-style multifamily community near Interstate 75 and Kennesaw State University in Acworth. The multifamily asset was built in 2001. A national bank provided financing for The Reserve at Ashley River, a 280-unit garden-style multifamily community built in 1974. RADCO's business plan calls for the implementation of a combined $6.3 million in capital improvements at the communities.
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