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Distressed Multifamily Pipeline Coming to End

INDIANAPOLIS—The number of distressed properties has begun to shrink, RADCO's Radow says, leaving fewer opportunities to pick up bargains.

By Brian J. Rogal | Updated on July 16, 2013

INDIANAPOLIS—The RADCO Companies, a real estate turnaround specialist that acquires distressed residential communities, has just purchased Lakewood Lodge, a 454-unit apartment community in foreclosure, for $16.5 million. But Norman J. Radow, the company’s founder and CEO, tells GlobeSt.com that he expects opportunities like this Indianapolis property, bought from the Lehman estate, to become much rarer as the economy improves and the number of troubled properties declines.

“We’ve been surprised at high volume of distressed properties in the first half of this year,” he says. “But we’re now seeing the end of our pipeline; we’re not seeing as many distressed deals.”

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