RADCO PURCHASES TWO MULTIFAMILY PROPERTIES IN SOUTH CAROLINA FOR $11M

ANDERSON, S.C. — The RADCO Cos. has purchased two apartment communities totaling 316 units in Anderson for $11 million. The properties — the 180-unit Country Club and 136-unit Cobblestone — are RADCO’s first apartment acquisitions in South Carolina. The assets are both located off Clemson Boulevard across from Anderson Mall. RADCO plans to invest approximately $3 million to renovate the assets, as well as rebrand the properties as Ashford Pointe (formerly Country Club) and Ashford Village (formerly Cobblestone). RADCO’s portfolio now spans 6,600 units in six cities in the Southeast and Midwest. RADCO financed the acquisition through bridge debt from BBVA Compass and its own privately funded equity. The Atlanta-based multifamily investor purchased the assets from two unnamed limited liability companies.