Company sells 3-property West Ashley portfolio for $76M

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An Atlanta-based real estate company has sold its three-property, 498-unit multifamily portfolio in West Ashley for $76 million.

The RADCO Cos., a national real estate company, announced the sale to Atlanta’s Braden Fellman Group today.

The portfolio includes three multi-family assets that RADCO acquired between 2017 and 2018:

• Radius West Ashley, a 198-unit multifamily property located at 2040 Ashley River Road,
• Ashford Review, a 161-unit multifamily property located at 1478 Orange Grove Road,
• Ashford Palmetto Square, a 139-unit multifamily property located at 1551 Sam Rittenberg Blvd.

“Once again, I am proud of the remarkable accomplishments of the RADCO team in stabilizing and improving these incredibly well-located older communities,” said Norman Radow, CEO of the RADCO Cos. “With these sales, we begin our journey to reach $4 billion in completed transactions in this cycle alone.”

Founded in 1994, RADCO specializes in the acquisition and redevelopment of multifamily investments across the Southeast and Central U.S.

This is the 84^th transaction for the company during the current real estate cycle, bringing the total transaction volume to more than $3.04 billion in sales. Within the last 10 years, the firm has acquired or invested in more than 30,000 units in 15 markets.