CHARLESTON, S.C. — Atlanta-based The Radco Cos. has sold a three-property, 498-unit multifamily portfolio in Charleston to Atlanta-based Braden Fellman Group. Andrew Mays of Berkadia brokered the $76 million transaction. The three properties include Ashford Palmetto Square, Ashford Riverview and Radius West Ashley.
Built in 1966, Ashford Palmetto Square is a 139-unit multifamily property with one- and two-bedroom floorplans. Community amenities include courtyards, a pool with sundeck, community garden, fire pits, bark park, laundry facilities, Amazon package lockers and a picnic area. Located at 1551 Sam Rittenberg Road, the property is situated in central Charleston with access to Highways 7, 61 and 17.
Constructed in 1965, Ashford Riverview is a 161-unit multifamily property that offers one-, two- and three-bedroom units. Community amenities include landscaped courtyards, a pool with sundeck, bark park, fitness center, business center, grilling and picnic areas and laundry facilities. Located at 1478 Orange Grove Road, the property is situated in West Ashley, a residential area in Charleston. The property is near retailers and restaurants such as King Claw Juicy Seafood & Bar, Kings Sushi, Total Wine & More, El Molino Supermarket, Dollar Tree and Publix.
Lastly, Radius West Ashley is a 198-unit multifamily property with one-, two-and three-bedroom floorplans that was built in 1972. Community amenities includes a clubhouse, business center, pool, fitness center and laundry facilities. Located at 2040 Ashley River Road, the property is situated about 6.5 miles from the College of Charleston, 5.3 miles from the MUSC University Medical Center and 1.6 miles from Citadel Mall, a retail center with various shops and a food court.
Radco purchased Radius West Ashley in 2017 and acquired Ashford Palmetto Square and Ashford Riverview in 2018.