RADCO Acquires 1,426-Unit Multifamily Portfolio in Suburban Indianapolis for $64M

MERIDIAN HILLS, IND. — The RADCO Companies has acquired a portfolio of multifamily properties totaling 1,426 units near Meridian Hills, a northwest suburb of Indianapolis, for $64 million. The Class B and C properties have been reorganized into three properties known as Ashford Georgetown, Ashford Meridian Hills and Creekside at Meridian Hills. RADCO plans to spend over $27 million in capital improvements at the properties, which were built from 1968 to 1972. Units average 944 square feet. Community amenities include swimming pools, clubhouses, playgrounds, laundry centers and sport courts. RADCO Residential will manage the properties. The seller was not disclosed.