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RADCO Divests from Atlanta Apartments for $39M

RADCO Cos. has divested from Spalding Bridge, a 192-unit multifamily community in Atlanta. The sales price was $38.5 million.

Located at 47 Spalding Trail NE, Spalding Bridge was built in 1984 and includes one-, two- and three-bedroom apartments with fully equipped kitchens that open to unit living areas, washer/dryer connections, balconies, large closets, and extra storage. Amenities consist of an outdoor lounge with a fire pit, pool with sundeck, tennis courts, fitness center and BBQ areas. RADCO acquired the property in 2015.

Derrick Bloom and David Gutting of Newmark brokered the transaction. Chicago-based 29th Street Capital acquired the property.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Sale/Acquisition
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