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CST: 14/11/2019 04:06:22   

RADCO Completes Third Acquisition of 2019 with $54.2 Million Purchase of Luxury Community in Atlanta

27 Days ago

Atlanta-Based Developer Expands Multifamily Portfolio in Midtown Atlanta

ATLANTA, GA, Oct. 17, 2019 (GLOBE NEWSWIRE) -- The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate owners, completed its third acquisition of 2019 with the closing of 464 Bishop Apartments in West Midtown Atlanta. The 232-unit, Class A community has been renamed Radius West Midtown and will be managed by RADCO Residential, the Company’s proprietary management platform. RADCO’s Radius brand consists of more modern and luxury, Class A and Class B+ apartment homes within the company’s portfolio.

Radius West Midtown is located on Bishop Street in the Loring Heights neighborhood of West Midtown Atlanta, the Southeast’s premier hub for tech innovation and talent. With convenient access to downtown Atlanta and Buckhead, the community is within walking distance of Atlantic Station, five minutes away from Georgia Tech University and less than 20 minutes away from Piedmont Park. It is also 20 minutes away from Hartsfield–Jackson Atlanta International Airport, the busiest airport in the world.

“RADCO began its storied history by purchasing and repositioning what is now the Four Seasons Hotel in Midtown Atlanta. Today, we are cheerleaders of the exciting growth in West Midtown,” said Norman Radow, founder and Chief Executive Officer of The RADCO Companies. “Radius West Midtown is already a beautiful, luxury midrise community in a phenomenal location. We intend to noticeably improve the resident experience with exceptional customer service and a focused commitment to the greater community.”

Built in 2017, Radius West Midtown consists of 232 units situated on three acres within a five-story midrise building with elevators and an attached parking garage. This modern, controlled access community offers a range of studio, one- and two- bedroom floorplans. Amenities include a clubhouse equipped with a media and business center, resort-style saltwater pool, outdoor entertainment kitchen with grilling stations, fire pit, fitness center, pet spa, bike care and storage station, car care center, 24/7 package concierge system and a rooftop lounge with breathtaking views of Atlanta’s skyline.

RADCO financed the acquisition with private capital and debt furnished by PGIM. Since 2011, the Company has raised over $700 million in private capital to fund its acquisitions, making it one of the largest private capital companies of its type in the nation.

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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 Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, Indiana and Texas. For more information, please visit www.radco.us.

Attachments

Maya Clark
The RADCO Companies
7702729330
media@radco.us

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