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Texas  + Apartments  |  September 15, 2020
Paul Bubny
By: Paul Bubny

RADCO Trades San Antonio Apartments

The RADCO Companies, headquartered in Atlanta, has divested a two-building multifamily portfolio in San Antonio, including the City Crest and City Summit apartment communities. Austin-based Shippy Properties was the buyer.

City Crest consists of 200 rental units, while City Summit includes 269 units. Berkadia brokered the sales. Terms of the deals were not disclosed.

“The sale of these two multifamily properties completes our business plan and once again showcases RADCO’s successful value-add investment strategy,” said Norman Radow, CEO of RADCO. The company acquired the two properties, which date from the early 1980s, separately in 2015 and 2016.

Radow continued, “The San Antonio market continues to be attractive to multifamily investors nationwide because of its strong housing demand and sustained job growth. The buyer recognized the long-term value of these assets and we were able to quickly complete the sale of this quality portfolio.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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