It’s a Wrap for RADCO in Sandy Springs
- Dec 03, 2015
RADCO Cos. has sold the Sierra Place community in Sandy Springs to a New Jersey-based group of three private investors. The 130-unit Class B apartment complex changed hands in a $7.15 million deal brokered by Multi-Housing Advisors.
Sierra Place is located inside Atlanta’s Perimeter highway at 66 Northwood Drive. Atlanta-based RADCO purchased the 1970-vintage property in June 2012, upgraded the asset and repositioned it as a working-class community. The company has also raised rents significantly.
Founded in 1994, RADCO has raised $300 million of private capital since August 2011 to fund its purchases. Its business plan intended a three-year hold, and the company is now focusing on larger, mostly newer assets. RADCO’s portfolio includes 14,000 multifamily units in Georgia, Illinois, Indiana, Oklahoma, Colorado, South Carolina, Texas and Florida.
Image source: Yardi Matrix