THE RADCO COS. ACQUIRES ATLANTA APARTMENT COMMUNITY FOR $16M

ATLANTA — The RADCO Cos., an Atlanta-based investor of distressed multifamily assets, has acquired Defoors Ferry West, a 297-unit apartment community in Atlanta, for $16 million. The distressed apartment community is located at 2788 Defoors Ferry Road in Atlanta’s West Midtown neighborhood. The property contains 48 two-bedroom/two-bath units, and the remaining apartments are all two- and three-bedroom townhomes. The community was 99 percent occupied at the time of sale, excluding 10 down units that are being restored as part of the contract. RADCO financed the acquisition through both bridge debt and private equity. To date, RADCO has raised $93 million of private equity to fund its acquisitions. The firm’s current multifamily portfolio consists of 5,700 units in Georgia, Illinois, Indiana and Oklahoma.