RADCO Acquires Apartment Community in Atlanta for $55.5M

ATLANTA — The RADCO Cos., a private multifamily investor based in Atlanta, has purchased Bell Cheshire Bridge, a 318-unit, Class A apartment community located in Atlanta’s Lindbergh neighborhood. RADCO has renamed the asset Radius Cheshire Bridge and plans to invest $4.5 million on capital improvements to modernize the property, including upgrades for the amenities and unit interiors. RADCO financed the purchase using a $44.4 million Freddie Mac loan and $18.7 million in private capital. RADCO Residential will manage the property, which is RADCO’s 13th acquisition in 2016. Built in 2001, Radius Cheshire Bridge features a leasing office and clubhouse with a fitness center, resident lounges and a billiards room that overlooks the swimming pool. Other amenities include a nature trail, dog park, car wash, surface parking, detached car garages and a parking deck.