Georgia

ATLANTA — The RADCO Cos. has acquired three Atlanta-area multifamily properties totaling 1,091 units in three separate transactions totaling $70 million. The apartment communities include Mission Galleria in Smyrna, Gwinnett Place in Lawrenceville and Parkside at East Atlanta. RADCO financed the acquisitions using a mixture of bridge debt and private equity. RADCO will rebrand Mission Galleria as Ashford 75, Gwinnett Place as Ashford 3400 and Parkside at East Atlanta as Ashford East Village. In addition to these three deals, RADCO has another 1,630 units under contract across six properties that are slated to close before the end of the year, which will bring its total acquisitions for the year to 5,307 units.

SMYRNA, GA. — Berkadia Real Estate Advisors has brokered the $27 million sale of the 416-unit Mission Galleria Apartments in Smyrna, a suburb of Atlanta located in Cobb County. The property is located at 5000 S. Lincoln Trace Ave. N.E., near the site of SunTrust Park, the Atlanta Braves’ new ballpark that will open in 2017. Andrew Mays and Paul Vetter of Berkadia’s Atlanta office represented the buyer, RADCO Cos., in the transaction. David Oakley of Berkadia’s Birmingham office represented the seller, Mission Galleria LLC. Built in 1975 on more than 25 acres, Mission Galleria was 85 percent occupied at the time of sale.

KENNESAW, GA. — Steadfast Apartment REIT has purchased 1800 Barrett Lakes, a 500-unit apartment community in the northern Atlanta suburb of Kennesaw, for $49 million. The apartment community is located on a 68-acre site and offers one-, two- and three-bedroom units averaging 1,086 square feet. The units’ average rental rate is $827 per month. The property’s amenity offerings include two swimming pools, a sauna, lighted tennis courts, fitness center, clubhouse, playground and internet café. 1800 Barrett Lakes is Steadfast’s second acquisition in Georgia, following its purchase of the Residences at McGinnis Ferry in Suwanee in October.