RADCO Purchases Apartment Community in Atlanta for $60M

ATLANTA — The RADCO Cos. has purchased Legends of Dunwoody, a 532-unit, Class B apartment community located in Atlanta, for $60 million. The Atlanta-based multifamily investment firm will invest roughly $8.7 million on capital improvements and rebrand the property Radius Sandy Springs, the second community under RADCO’s Radius brand. RADCO Residential will manage the property, which is the 24th community that RADCO owns in metro Atlanta. RADCO financed the acquisition using a $50.4 million Freddie Mac loan and $21.6 million in private capital. The renovations will include unit interior upgrades, building repairs, a remodeled clubhouse, pool deck expansion, new pool, new dog park additions, exterior lighting upgrades, landscaping and a refurbished tennis court. Built in 1980, Radius Sandy Springs is situated in Atlanta’s Central Perimeter office submarket, home of State Farm’s new East Coast hub and the corporate relocation of Mercedes-Benz USA.