{"id":1004100824,"date":"2014-07-18T09:29:26","date_gmt":"2014-07-18T17:29:26","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=276985"},"modified":"2022-12-13T00:06:01","modified_gmt":"2022-12-13T08:06:01","slug":"lawrenceville-value-added-community-sold-to-local-investor","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/","title":{"rendered":"Lawrenceville Value-Added Community Sold to Local Investor"},"content":{"rendered":"<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-276986\" title=\"Ashford Way lawrenceville\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg\" alt=\"\" width=\"300\" height=\"225\" \/><\/a>The 98-unit Ashford Way multifamily property at 370 Hurricane Shoals Road changed hands for $5 million, or approximately $51,000 per unit. KENCO Apartment Communities, a multifamily investor with a 50-year background in Atlanta purchased the property from The RADCO Companies. According to a recent announcement made by RADCO\u2019s founder and CEO Norman J. Radow, Atlanta Retailers Association brokered the transaction.<\/p>\n<p>Also based in Atlanta, RADCO is a real estate opportunity development company with a 20-year history on the residential markets of Georgia as well as Illinois, Indiana, Oklahoma and Colorado. The company is focused on redevelopments and its value-add strategy has produced $130 million in private equity over the years to fund its transactions. RADCO\u2019s portfolio includes around 6,300 multifamily units in the aforementioned states with an additional 860 units under contract.<\/p>\n<p>The company purchased Ashford Way out of receivership in December 2012 and paid $29,000 per unit. The community was 71 percent occupied at that time. Built in 1987 in the heart of Gwinnett County, the community has one- and two-bedroom units averaging 752 square feet.<\/p>\n<p>As a result of a $1 million value-added capital improvement, KENCO took ownership of the rebranded property with renovated exteriors, upgraded units, an expanded amenity package and 97 percent occupancy. The average rents have also raised more than $75 per unit during RADCO ownership.<\/p>\n<p><em>Photo credits: The RADCO Companies<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 98-unit Ashford Way multifamily property at 370 Hurricane Shoals Road changed hands for $5 million, approximately $51,000 per unit. KENCO Apartment Communities, a multifamily investor with a 50-year background in Atlanta purchased the property from The RADCO Companies. According to a recent announcement made by RADCO&#8217;s founder and CEO Norman J. Radow, Atlanta Retailers Association brokered the transaction.<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21742],"tags":[39387,1815],"class_list":["post-1004100824","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-latest","tag-atlanta","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lawrenceville Value-Added Community Sold to Local Investor - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lawrenceville Value-Added Community Sold to Local Investor\" \/>\n<meta property=\"og:description\" content=\"The 98-unit Ashford Way multifamily property at 370 Hurricane Shoals Road changed hands for $5 million, approximately $51,000 per unit. KENCO Apartment Communities, a multifamily investor with a 50-year background in Atlanta purchased the property from The RADCO Companies. According to a recent announcement made by RADCO&#039;s founder and CEO Norman J. Radow, Atlanta Retailers Association brokered the transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-07-18T17:29:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-13T08:06:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg\" \/>\n<meta name=\"author\" content=\"Balazs Szekely\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/\"},\"author\":{\"name\":\"Balazs Szekely\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/623e95293ca6c6791bedc7473f548d7f\"},\"headline\":\"Lawrenceville Value-Added Community Sold to Local Investor\",\"datePublished\":\"2014-07-18T17:29:26+00:00\",\"dateModified\":\"2022-12-13T08:06:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/\"},\"wordCount\":221,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/07\\\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg\",\"keywords\":[\"Atlanta\",\"National\"],\"articleSection\":[\"Atlanta\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/\",\"name\":\"Lawrenceville Value-Added Community Sold to Local Investor - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/07\\\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg\",\"datePublished\":\"2014-07-18T17:29:26+00:00\",\"dateModified\":\"2022-12-13T08:06:01+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/623e95293ca6c6791bedc7473f548d7f\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/07\\\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/07\\\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lawrenceville-value-added-community-sold-to-local-investor\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lawrenceville Value-Added Community Sold to Local Investor\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/623e95293ca6c6791bedc7473f548d7f\",\"name\":\"Balazs Szekely\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ea1f85d2af7c0f5d50529126ca4816b84db1c71b7a8a620cda11a7d0dc8c8767?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ea1f85d2af7c0f5d50529126ca4816b84db1c71b7a8a620cda11a7d0dc8c8767?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ea1f85d2af7c0f5d50529126ca4816b84db1c71b7a8a620cda11a7d0dc8c8767?s=96&d=mm&r=g\",\"caption\":\"Balazs Szekely\"},\"description\":\"Balazs covers the workspace trends, tools, and strategies that help organizations make hybrid work actually work, from access and space management to keeping distributed teams connected. A journalist by training with a career spanning radio, print, and digital media, Balazs has held content roles across multiple Yardi products and teams. His writing has been featured in The New York Times, The Washington Post, and The Wall Street Journal, as well as on CBS, CNBC, and more. Outside of work, Balazs is passionate about photography, winter sports, and nature, and never misses a chance to explore a new city. Drop him a line via email.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/\"],\"jobTitle\":\"Senior Creative Writer\",\"worksFor\":\"WorkCafe\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/balazs-szekely\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Lawrenceville Value-Added Community Sold to Local Investor - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/","og_locale":"en_US","og_type":"article","og_title":"Lawrenceville Value-Added Community Sold to Local Investor","og_description":"The 98-unit Ashford Way multifamily property at 370 Hurricane Shoals Road changed hands for $5 million, approximately $51,000 per unit. KENCO Apartment Communities, a multifamily investor with a 50-year background in Atlanta purchased the property from The RADCO Companies. According to a recent announcement made by RADCO's founder and CEO Norman J. Radow, Atlanta Retailers Association brokered the transaction.","og_url":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2014-07-18T17:29:26+00:00","article_modified_time":"2022-12-13T08:06:01+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg","type":"","width":"","height":""}],"author":"Balazs Szekely","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/"},"author":{"name":"Balazs Szekely","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/623e95293ca6c6791bedc7473f548d7f"},"headline":"Lawrenceville Value-Added Community Sold to Local Investor","datePublished":"2014-07-18T17:29:26+00:00","dateModified":"2022-12-13T08:06:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/"},"wordCount":221,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg","keywords":["Atlanta","National"],"articleSection":["Atlanta","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/","url":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/","name":"Lawrenceville Value-Added Community Sold to Local Investor - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg","datePublished":"2014-07-18T17:29:26+00:00","dateModified":"2022-12-13T08:06:01+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/623e95293ca6c6791bedc7473f548d7f"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/2014-07-15-Lawrenceville-Value-Added-Community-Sold-to-Local-Investor.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/lawrenceville-value-added-community-sold-to-local-investor\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Lawrenceville Value-Added Community Sold to Local Investor"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/623e95293ca6c6791bedc7473f548d7f","name":"Balazs Szekely","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/ea1f85d2af7c0f5d50529126ca4816b84db1c71b7a8a620cda11a7d0dc8c8767?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/ea1f85d2af7c0f5d50529126ca4816b84db1c71b7a8a620cda11a7d0dc8c8767?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ea1f85d2af7c0f5d50529126ca4816b84db1c71b7a8a620cda11a7d0dc8c8767?s=96&d=mm&r=g","caption":"Balazs Szekely"},"description":"Balazs covers the workspace trends, tools, and strategies that help organizations make hybrid work actually work, from access and space management to keeping distributed teams connected. A journalist by training with a career spanning radio, print, and digital media, Balazs has held content roles across multiple Yardi products and teams. His writing has been featured in The New York Times, The Washington Post, and The Wall Street Journal, as well as on CBS, CNBC, and more. Outside of work, Balazs is passionate about photography, winter sports, and nature, and never misses a chance to explore a new city. Drop him a line via email.","sameAs":["https:\/\/www.linkedin.com\/"],"jobTitle":"Senior Creative Writer","worksFor":"WorkCafe","url":"https:\/\/www.commercialsearch.com\/news\/author\/balazs-szekely\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004100824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004100824"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004100824\/revisions"}],"predecessor-version":[{"id":1004554475,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004100824\/revisions\/1004554475"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004100824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004100824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004100824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}