LAKEWOOD, CO—The Radco Companies has purchased Parc Belmar in Lakewood, a close-in southwestern suburb of Denver. Radco acquired the 512-unit apartment community for $95.33 million from a local developer.
Moran & Co. brokered the transaction, which is the largest multifamily transaction in Colorado this year. It was RADCO's first acquisition in Colorado. The announcement was made by the company's founder and CEO, Norman Radow.
Following the acquisition of Parc Belmar, Radco's portfolio now includes more than 6,500 multifamily units in five cities in the Southeast and the Midwest. Radco financed the purchase through a mixture of Freddie Mac debt, preferred equity from The Related Companies, and its own privately funded equity. To date, Radco has raised $130 million of private equity to fund its acquisitions.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
