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Radco Sells $315 Million of Apartments, Building Cash for Deals

relates to Radco Sells $315 Million of Apartments, Building Cash for Deals

Photographer: Chris Rank/Bloomberg

The Radco Cos., an owner and operator of multifamily buildings in the U.S., has now pared more than half of the apartments it bought since the last recession as it builds a cash pile for opportunities it sees coming next year.

The company sold six buildings this week in the Atlanta suburbs and one in Charlotte, North Carolina for a combined $315.6 million, Norman Radow, chief executive officer of the firm, said in an interview. That leaves Radco with 28 of the 59 apartment properties it had purchased since 2011.