News

The RADCO Companies Sells Mabry Manor Apartment Community in Tampa, FL to TLR Group for $42.8M

TAMPA, FL – June 20, 2020) – The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, announces the sale of Mabry Manor, a 372-unit B class multifamily apartment community in Tampa, FL, to TLR Group for the gross purchase price of approximately $42.8 million. This transaction marks the 51st successful property sale for RADCO during this real estate cycle.

The pet-friendly community features a mix of studio, one- and two-bedroom apartments with open floorplans, gourmet kitchens and patios/balconies. Community amenities include pool and sundeck, fitness center, clubhouse, fully stocked lakes with floating deck and fishing pier, coffee bar, laundry facilities and business center.Mabry Manor is conveniently located near I-275, I-75, I-4 and public transportation, offering easy access to Al Lopez Field, Raymond James Stadium and Tampa International Airport. The property is minutes from Downtown Tampa and Tampa Bay, offering a wide variety of dining, entertainment, and recreational activities.

“This sale is the latest example of the execution of our successful three- to five-year business model,” said Norman Radow, CEO of The RADCO Companies. “We are extremely pleased with the improvements and value we have added to Mabry Manor during our ownership, producing positive results for both the community and our investors.”

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 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.