RADCO Purchases Decatur Multifamily

GlobeSt.com
By Jennifer LeClaire
February 8, 2013

ATLANTA—The RADCO Companies just closed on its eighth multifamily acquisition in the last two months. RADCO snapped up The Pavilion at Decatur, a 144-unit multifamily property near Emory University and Dekalb Medical Center.

RADCO will spend $4.8 million to completely renovate the units and build out an amenity package. After the renovation, RADCO promises the multifamily units will offer the highest quality residential finishes in the area. As for the amenity package, RADCO is planning a new ground-up construction clubhouse, fitness center, pool, and playground. Pavilion at Decatur is also adjacent to a brand new park under construction by DeKalb County.

“One of RADCO’s strategies is to acquire multifamily properties below market that also have significant upside potential, and Pavilion is such a property,” says Norman Radow, the firm’s president and CEO. “Our plan is to completely transform a previous blemish in the neighborhood into a clean, safe and upscale community. Our redevelopment plan coupled with the ongoing construction of the county park will have a profound effect on the quality of life for our residents and the overall community.”

The Pavilion at Decatur deal comes on the heels of a very active November and December for RADCO. The firm closed on seven other multifamily properties spanning 983 units. The acquisition of Pavilion will be the sixteenth for RADCO since September 2011, bringing its total unit count to over 3,000.