RADCO Received More Than $32 Million in Short-Term Floating-Rate Financing
Cushman & Wakefield’s Atlanta Equity, Debt & Structured Finance Group has secured more than $32 million in short-term floating-rate financing for The RADCO Companies acquisition and capital improvement plans for Stanton Place Apartments near Atlanta and The Reserve at Ashley River in North Charleston, S.C.
Cushman & Wakefield’s Mike Ryan, Telly Fathaly and Brian Linnihan represented RADCO in the transactions. A regional bank provided financing for Stanton Place, a 240-unit garden-style community near Interstate 75 and Kennesaw State University in Acworth, built in 2001, while a national bank provided financing for The Reserve at Ashley River, a 280-unit garden-style community built in 1974. RADCO’s business plan calls for the implementation of a combined $6.3 million in capital improvements at the communities.
“RADCO’s tremendous reputation and track record played a significant role in our ability to assist them in securing such attractive and flexible financing for these assets,” said Ryan, Senior Managing Director in Cushman & Wakefield’s Equity, Debt & Structured Finance Group. “In both cases, we were able to tout RADCO’s hands-on management style in order to provide lenders comfort with RADCO’s plan to increase income through implementation of their proven value-add process.”
Cushman & Wakefield Equity, Debt & Structured Finance is a premier real estate investment banking organization serving the financing needs of the real estate industry for over a century. Founded in 1893, and previously known as Sonnenblick Goldman Company, the firm provides a full range of real estate related financial services, including debt and equity placement and joint venture structuring for virtually all product types, investment sales for lodging properties and senior housing/skilled nursing, mortgage loan sales, and advisory services on a global basis as part of the Cushman & Wakefield Capital Markets Group. Headquartered in New York City, Cushman & Wakefield Equity, Debt & Structured Finance has additional offices in Atlanta, Boston, Los Angeles, Chicago, Dallas, Miami, San Diego, San Francisco and Washington D.C.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
