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RADCO Completes First Acquisition of 2019 with $25 Million Purchase of Stonegate at Eagles Landing

1061 Days ago

Atlanta-Based Developer Expands Multifamily Portfolio in Metro Atlanta

ATLANTA, GA, June 24, 2019 (GLOBE NEWSWIRE) -- The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, completed its first acquisition of 2019 with the closing of Stonegate at Eagle’s Landings Apartments in Stockbridge, Ga. The 167-unit, Class A property has been renamed Crossings at Eagle's Landing and will be managed by RADCO Residential, the Company’s proprietary management platform.

Crossings at Eagle’s Landing is located on Rock Quarry Road in Henry County, one of the fastest growing suburbs in the metro Atlanta region. This is RADCO’s 2nd community in the Henry County submarket. Since 2010, the population in Henry County has steadily increased, prompting many new job opportunities. The community is conveniently located off I-75 near many restaurants, major retailers and just one mile away from Piedmont Henry Hospital. It is also less than 25 minutes away from Hartsfield–Jackson Atlanta International Airport, the busiest airport in the world.

“As one of the largest owners and operators of apartment homes in Atlanta, we have seen great success in Henry County and we are anxious to expand our operations in this robust market” said Norman Radow, founder and Chief Executive Officer of The RADCO Companies. “Crossings at Eagles Landing is already a wonderful community. However, we are confident that our thoughtful capital improvements plan and cutting edge service platform will provide an even more exceptional living experience for our residents."

Built in 2006, Crossings at Eagles Landing is situated on 29 acres and consists of 167 units within 8 two-, three- and four-story buildings. Averaging 1,185 square feet, the spacious garden-style apartments offer a range of one-, two- and three-bedroom floorplans that include a private patio or balcony. The community amenities include a resort style swimming pool, outdoor fire pit, clubhouse, 24-hour fitness center, tennis/basketball courts, baseball/soccer fields, car care center, business center, gift wrapping station and laundry facilities.

RADCO plans to spend nearly $1.2 million, or approximately $7,700 a unit, on capital improvements to further modernize the community. Building repairs, additional unit renovations and common area enhancements will transform the look of the property and quality of experience. Amenity improvements will feature clubhouse improvements, new pool furniture, a new playground, tennis court restoration and landscaping upgrades to improve our resident’s living experience.

RADCO financed the acquisition with private capital and debt furnished by Fannie Mae. Since 2011, the Company has raised over $690 million in private capital to fund its acquisitions, making it one of the largest private capital companies of its type in the nation.

The RADCO Companies

RADCO’s mission is “Building Better Living.” Based in Atlanta, the national real estate acquisition and redevelopment company was founded in 1994. The firm has grown its multifamily portfolio to include approximately 17,000 units in Colorado, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas. For more information, please visit www.radco.us.


Maya Clark
The RADCO Companies

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