News

The RADCO Companies Purchases $390 Million in Multifamily Properties in 2016

Atlanta-Based Developer Completed 14 Acquisitions, 13 Refinances, and Eight Sales in 12 Months

(ATLANTA – January 9, 2017) – The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, had another year of strong multifamily growth in 2016. The Company acquired 14 properties, refinanced 13 communities, sold eight properties, expanded its proprietary management platform across its portfolio, and unveiled it’s new “Radius” brand all in 2016. The firm has grown its multifamily portfolio to include approximately 17,500 units in Georgia, Illinois, Indiana, Oklahoma, Colorado, South Carolina, Texas, Florida, and North Carolina.

The 14 acquisitions, totaling approximately $390 million, added 4,446 units to the Company’s multifamily portfolio. RADCO financed the acquisitions using agency and bridge financing and approximately $155 million in private capital. The acquisitions were particularly concentrated in the Southeast, with new markets including Spartanburg, Charleston, and Charlotte. RADCO also completed 13 refinances totaling almost $338 million. It also sold eight properties totaling about $90 million. Since 2011, the Company has acquired 66 multifamily properties and raised approximately $500 million in private capital to fund its acquisitions, making it one of the largest private capital companies of its type in the nation.

“2016 was another phenomenal year for RADCO, as we achieved an asset value of $2 billion,” said Norman Radow, founder and Chief Executive Officer of The RADCO Companies. “We entered three new key markets, significantly grew our presence in nearly all our existing markets, and celebrated the completion of several investment lifecycles. RADCO is poised to do exceptionally well in 2017.”

RADCO Residential, the Company’s proprietary management platform, now manages all existing properties in the portfolio and immediately assumes management of all new acquisitions at takeover. To oversee the 17,500-unit multifamily portfolio, the RADCO subsidiary grew from 150 to 470 employees year-over-year. This includes management of properties under the new Radius brand, which underscores RADCO’s belief that their residents’ wants and needs should be the center of focus in all day-to-day operations. To date, the Radius brand includes Radius Cheshire Bridge and Radius Sandy Springs in Metro Atlanta. The Company expects to significantly expand the brand in 2017.

***

The RADCO Companies

RADCO’s mission is “Building Better Living.” Based in Atlanta, the national real estate acquisition and redevelopment company was founded in 1994. The firm has grown its multifamily portfolio to include approximately 17,000 units in Georgia, Illinois, Indiana, Oklahoma, Colorado, South Carolina, Texas, Florida, and North Carolina.