Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
RADCO Hotel Division Marks 10th Hospitality Buy with Aloft Sugarloaf in Lawrenceville
Atlanta, GA-based The RADCO Companies has acquired Aloft Sugarloaf in the Northeast Atlanta submarket of Lawrenceville, GA. The newly built, a five-story, 112-key hotel is located directly off I-85.
Monty Levy and Ketan Patel of Hospitality Real Estate Counselors brokered the sale. The property will be managed by Hospitality Ventures Management Group.
The deal marks the 10th acquisition by RADCO’s hotel division, which launched in 2021 in response to the COVID-19 pandemic’s operational and capital markets disruptions in the hospitality sector.
“RADCO continues to find ways to deploy capital into the hospitality industry in what has proven to be a challenging time in the industry, with a volatile debt market and rising inflation,” said Bhavnesh Vivek, VP of hotel acquisitions.
According to RADCO, the property was acquired at a basis below today’s replacement cost and the company was attracted to its Marriott brand affiliation in a submarket that has seen tremendous growth, with more coming with the mixed-use development of the Gas South District.
- ◦Sale/Acquisition
