{"id":1004111131,"date":"2015-01-13T07:57:55","date_gmt":"2015-01-13T15:57:55","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=316836"},"modified":"2020-05-10T23:44:33","modified_gmt":"2020-05-11T07:44:33","slug":"radco-pays-39m-for-m-f-portfolio-in-ok-city","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/radco-pays-39m-for-m-f-portfolio-in-ok-city\/","title":{"rendered":"RADCO Pays $39M for M-F Portfolio in OK City"},"content":{"rendered":"<p><em>By Ioana Neamt, Associate Editor<\/em><\/p>\n<div id=\"attachment_316838\" class=\"wp-caption alignleft\" style=\"width: 160px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/Arbor-Lake.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-316838\" title=\"Arbor Lake\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/Arbor-Lake.jpg\" alt=\"\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>Arbor Lake<\/em><\/p>\n<\/div>\n<p>The RADCO Companies has acquired a 714-unit, three-property multifamily portfolio in northern Oklahoma City. The Atlanta-based company paid $38.5 million for the Arbor Lake, Deer Creek and Lincoln Greens communities, with plans to invest an additional $7.6 million in upgrades.<\/p>\n<p>Located roughly 12 miles from downtown Oklahoma City near Lake Hefner, the three Class B properties total 714 residential units built between 1984 and 1986. According to a news release, RADCO purchased the portfolio through a combination of bridge debt and private equity.<\/p>\n<p>\u201cMore and more people are moving to Oklahoma,\u201d said RADCO CEO Norman Radow in a statement. \u201cIt has the lowest unemployment rate in the nation and we want to be part of the city\u2019s success by being leaders in the redevelopment of these quality properties.\u201d<\/p>\n<p>Arbor Lake is a townhome community featuring 125 one-bedroom apartments ranging in size from 696 to 900 square feet, and 27 two-bedroom, 1,100-square-foot units. The property also features two resort-style swimming pools. RADCO plans to rebrand the property Ashford Park.<\/p>\n<p>The Deer Creek property, which will be rebranded Ashford Walnut Creek, comprises 76 one-bedroom and 28 two-bedroom apartments ranging from 504 to 900 square feet.<\/p>\n<p>Lincoln Greens is a 458-unit garden-style community offering 34 townhomes, 330 one-bedroom and 128 two-bedroom apartment. Following upgrades, it will be rebranded Ashford Northwest.<\/p>\n<p>RADCO owns two other multifamily communities in Oklahoma \u2013 Ashford Overlook and Ashford Ridge, both located in Tulsa.<\/p>\n<p><strong><a href=\"https:\/\/www.multihousingnews.com\/market-data\/market-snapshot-oklahoma-well-positioned-for-future-economic-growth\/1004111691.html\" rel=\"nofollow\">Click here<\/a><\/strong> for more market data on <strong>Oklahoma City<\/strong><\/p>\n<p><em>Image courtesy of <a href=\"https:\/\/www.apartmentfinder.com\/Oklahoma\/Oklahoma-City-Apartments\/Arbor-Lake-Apartments\" rel=\"nofollow\">www.apartmentfinder.com <\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The RADCO Companies has acquired a 714-unit, three-property multifamily portfolio in northern Oklahoma City.<\/p>\n","protected":false},"author":192,"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":[21742],"tags":[],"class_list":["post-1004111131","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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