The RADCO Cos. Acquires 714-Unit Multifamily Portfolio for $38.5M

OKLAHOMA CITY — The RADCO Cos. has acquired a three-property multifamily portfolio in Oklahoma City for $38.5 million with plans to invest more than $7.6 million to improve the properties. Arbor Lake, Deer Creek and Lincoln Greens contain a combined 714 units and are located in the north-central Oklahoma City market near Lake Hefner. The Class B properties average 94 percent occupancy and were built between 1984 and 1986. RADCO financed the purchase with a mixture of bridge debt and private equity. Arbor Lake is a townhome community originally built as condominiums. It consists of one- and two-bedroom units. Deer Creek consists of 104 units with either one or two bedrooms. Lincoln Greens is a 458-unit complex with one- and two-bedroom layouts.