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Atlanta Apartment Complex Trades for $50M
National real estate developer The RADCO Cos. has sold Ashford 2788, a 297-unit apartment community in Atlanta’s Upper Westside neighborhood. The sales price was $49.5 million. The buyer was Quintus Corp.
RADCO acquired the community in 2014 and implemented an extensive capital improvement plan to renovate the property, which included adding a new clubhouse, fitness center and dog park as well as substantial exterior and interior renovations.
“We’re pleased with the execution of our business plan for the transformation of Ashford 2788, which has led the resurgence of this vital in-town neighborhood,” said Norman Radow, CEO at RADCO. “We purchased the property in 2014 and our renovations and proactive asset management helped reposition it into an appealing multifamily choice for residents within this popular Atlanta submarket. This successful transaction is another demonstration of RADCO’s value-added real estate strategy and investment expertise.”
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- ◦Sale/Acquisition
