|By PR Newswire||
|August 18, 2014 08:30 AM EDT||
ATLANTA, Aug. 18, 2014 /PRNewswire/ -- The RADCO Companies (RADCO), one of the nation's leading real estate opportunistic investment specialists, has purchased two multifamily communities in metro Atlanta totaling 553 units from Fannie Mae. The 439-unit Keeneland Farms and 114-unit Brown Ridge were acquired for an aggregate purchase price of $33.2 million. The announcement was made by the company's founder and CEO, Norman J. Radow.
Following the acquisition of these two properties, RADCO's portfolio now includes 26 communities containing 7,133 multifamily units in six cities in the Southeast and the Midwest. RADCO financed the purchase through a mixture of bridge debt provided by Freddie Mac and Hamilton State Bank, in addition to its own privately funded equity. To date, RADCO has raised about $150 million of private equity to fund its acquisitions.
Keeneland Farms was originally developed in 1972 on 44.4 acres in Smyrna, Ga. Brown Ridge, which is situated on 16 acres in Newnan, Ga., was built in three phases from 1976 to 1988. The apartment complex is located one mile from the heart of downtown Newnan. Both properties include one- to three-bedroom apartments, as well as townhomes.
RADCO plans to invest $5.8 million to renovate and improve these properties. The firm will first rebrand Keeneland Farms and Brown Ridge as Ashford Woods and Ashford at Brown Ridge, respectively, to coincide with the company's brand identity and its new ownership. The majority of RADCO's capital improvement plan will focus on upgrading unit interiors at the properties. The firm will also replace aging infrastructure, renovate Keeneland Farms and Brown Ridge's exteriors, and expand their amenity packages, which includes adding a pool to Brown Ridge. "Fannie Mae has done a good job stabilizing these two communities," said Radow. "It expects us to take these well-located properties to the next level with a substantial infusion of capital and superior execution. And that's exactly what we are going to do. We are very excited about the better living we can bring to our residents and the value we can create for our investors."
So far this year, RADCO has purchased nine properties including 2,264 units and requiring a capital investment of about $220 million. Just last week, RADCO acquired Country Club and Cobblestone, two apartment communities totaling 316 units in Anderson, S.C. The company currently has another property under contract in Denver that should close this fall and has plans to pursue additional opportunities across the Southeast and Midwest.
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 7,133 units in Georgia, Illinois, Indiana, Oklahoma and Colorado.
Great Ink Communications – tel. 212-741-2977
SOURCE The RADCO Companies
DevOps Summit at Cloud Expo New York is offering a limited time FREE "Expo Plus" registration option in New York. On site registration price of $1,95 will be set to 'free' for delegates who register during special offer. To take advantage of this opportunity, attendees can use the coupon code, and secure their registration to attend all keynotes, @DevOpsSummit sessions at Cloud Expo, expo floor, and SYS-CON.tv power panels. Special FREE registration givess access to all Containers and Microservi...
Jun. 2, 2015 07:30 PM EDT Reads: 1,095
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
Jun. 2, 2015 07:15 PM EDT Reads: 2,400
"We have developers who are really passionate about getting their code out to customers, no matter what, in the shortest possible time. Operations are very focused on procedures and policies," explained Stan Klimoff, CTO of Qubell, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 2, 2015 07:00 PM EDT Reads: 4,979
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Jun. 2, 2015 06:15 PM EDT Reads: 1,006
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 2, 2015 06:15 PM EDT Reads: 4,565
ThingsExpo New York is offering a limited time FREE "Expo Plus" registration option in New York. On site registration price of $1,95 will be set to 'free' for delegates who register during special offer. To take advantage of this opportunity, attendees can use the coupon code, and secure their registration to attend all keynotes, ThingsExpo sessions, expo floor, and SYS-CON.tv power panels. Special FREE registration givess access to all DevOps, Containers and Microservices sessions as well. Regi...
Jun. 2, 2015 06:00 PM EDT Reads: 1,106
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
Jun. 2, 2015 06:00 PM EDT Reads: 2,711
"Verizon offers public cloud, virtual private cloud as well as private cloud on-premises - many different alternatives. Verizon's deep knowledge in applications and the fact that we are responsible for applications that make call outs to other systems. Those systems and those resources may not be in Verizon Cloud, we understand at the end of the day it's going to be federated," explained Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, in this SYS-CON.tv interview at...
Jun. 2, 2015 06:00 PM EDT Reads: 5,432
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable o...
Jun. 2, 2015 05:30 PM EDT Reads: 2,882
Jun. 2, 2015 05:30 PM EDT Reads: 2,148
Akana, a leading provider of API Management, API Security and Cloud Integration solutions, announced that it is introducing DevOps automation to the API lifecycle. New capabilities in Akana's API Management platform significantly reduce the time required to update API definitions and versions. DevOps teams will be able to work faster in designing and developing APIs, as well as managing them at runtime and publishing them to a portal.
Jun. 2, 2015 05:15 PM EDT Reads: 798
SYS-CON Events announced today that SUSE, a pioneer in open source software, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SUSE provides reliable, interoperable Linux, cloud infrastructure and storage solutions that give enterprises greater control and flexibility. More than 20 years of engineering excellence, exceptional service and an unrivaled partner ecosystem power the products and support that help ...
Jun. 2, 2015 05:15 PM EDT Reads: 1,213
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 2, 2015 05:15 PM EDT Reads: 4,163
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it!
Jun. 2, 2015 05:00 PM EDT Reads: 992
IndependenceIT has been selected by nGenx to power Windows-based DaaS and application delivery on Google Compute Engine to support the delivery of GoldMine Cloud software. For independent software vendors (ISVs) like GoldMine, this expands the theater of operations to increase revenue opportunities while reducing software management and maintenance liabilities. IndependenceIT was selected by application and desktop pioneer, nGenx, to deliver its “Bring Your Own Cloud” strategy to GoldMine and o...
Jun. 2, 2015 05:00 PM EDT Reads: 479