ATLANTA—RADCO has raised $93 million of private equity to find its distressed multifamily acquisitions—and the company isn't wasting any time spending it. The real estate turnaround specialist is still snapping up distressed residential communities at a rapid clip in 2014.
RADCO just grabbed Defoors Ferry West in Atlanta. The commercial real estate company acquired the 297-unit distressed multifamily community for $16 million.
"We are excited to continue investing in the Atlanta market, as it serves as our home base, and we are deeply committed to improving the region," says RADCO founder and CEO Norman J. Radow. "Our plan for Defoors Ferry is to rebrand and reposition the property as Ashford 2788. We will improve and enhance the overall experience for residents with a new leasing center, additional amenities and unit upgrades."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
