(Indianapolis, IN – March 24, 2021) – The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, announced the sale of a three-community, 1,426-unit portfolio in Indianapolis, IN to Aion Partners. The portfolio was sold for $108.5 million.
The portfolio is comprised of the following multifamily assets situated within Indianapolis:
• Ashford Georgetown, a 220-unit property located at 5810 Sebring Drive
• Ashford Meridian Hills, a 728-unit property located at 2085 Waterford Place
• Creekside at Meridian Hills, a 478-unit property located at 2100 Westlane Road
The deal represents the 79th transaction for RADCO during the current real estate cycle, bringing the firm’s total transaction volume to more than $2.77 billion in sales. A Cushman & Wakefield Indiana Multifamily Team comprised of George Tikijian, Hannah Ott, and Cameron Benz brokered the transaction.
“Three years ago, we took a veritable city of over 1,400 apartments in disrepair, and with elbow grease, our vast experience and tons of thoughtfully infused capital, we changed thousands of lives and indeed an entire neighborhood for the better,” said Norman Radow, CEO of the RADCO Companies.
About the Properties:
All three properties are located in Northwest Indianapolis and include newly renovated one-, two-, and three-bedroom apartment homes.
The Ashford Georgetown community offers easy access to I-65 and I-465 and is nearby Eagle Creek Park. The property features a clubhouse, pool with sundeck, bark park with agility equipment, covered parking, and playground.
Ashford Meridian Hills is located close to Crooked Creek and numerous local restaurants, shopping and recreational areas. Community residents have access to a new well-equipped fitness center, two pools with sundecks, BBQ and picnic areas, clubhouse and playground.
The Creekside at Meridian Hills property also includes a clubhouse, pool with sundeck, lush landscaping and scenic ponds, bark park, soccer field, BBQ and picnic area, and playground. The property is close to the area’s restaurants, ballfields, and other recreational areas.
The RADCO Companies
RADCO was founded in 1994 with the mission of “Building Better Living.” Based in Atlanta, RADCO is a national real estate company that specializes in the acquisition and redevelopment of value-add multifamily investments across the Southeast and Central US. Over the past 10 years, the firm has acquired and invested in approximately 30,000 units in 15 markets. For more information, please visit www.radco.us.