Radco Buys Kennesaw Apartment Popular with KSU Staff
Norman Radow is at it again. The head of Radco Cos has just purchased its latest suburban Atlanta apartment community: Estates at Ridenour, a 255-unit property in Kennesaw. Radco paid $35.3M for the complex with financing from Freddie Mac and Multi Housing Advisors brokering the sale. Company officials say the property—just 3.5 miles from Kennesaw State University—remains popular with faculty, staff and KSU grads. Even more importantly, Fuqua Development's new Whole Foods-anchored $150M mixed-use project is underway across the street, Norman says. "With all of the economic drivers unfolding in the submarket, our renovation plan, and its incredible location, this...asset will simply have no competition," he says. Radco plans to spend $2.55M on exterior renovations and unit upgrades.
