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RADCO Pays $131M For Skyhouse Midtown High-Rise in Atlanta
The RADCO Companies has acquired Skyhouse Midtown, a 320-unit, 23-story luxury high-rise multifamily building located in the heart of Midtown Atlanta, for $131 million. The property has been renamed “The M by Radius.”
Jason Nettles and Megan Thompson of Northmarq brokered the transaction, which marks the first high-rise multifamily building RADCO has acquired in its current investment cycle.
“As residents and capital migrated to the suburbs during the pandemic, the cost of buying suburban apartment assets also substantially increased,” said Norman Radow, CEO of the RADCO Companies. “There’s been a recent shift back to the urban core making in-town residential an attractive investment once again.”
The M by Radius was built in 2013 and includes 8,658 square feet of ground floor space. It sits on the corner of West Peachtree and 12th Street directly across from 1105 West Peachtree, a fully leased, newly constructed office building that will house Google’s new regional headquarters.
- ◦Sale/Acquisition
