ATLANTA, GA – The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, announced the acquisition of Skyhouse Midtown, a 320-unit, 23-tale luxury high-rise multifamily building prominently located in the heart of Midtown Atlanta, for $131 million.
The deal marks the first high-rise multifamily building RADCO has bought in its current investment cycle and complements the firm’s existing portfolio of multifamily and commercial real estate. The property has been renamed “The M by Radius.” Radius is RADCO’s highest brand and joins nearby Radius West Midtown to bolster the company’s in-town presence. RADCO previously owned the 53-tale Four Seasons hotel, office, and residential tower just blocks away from The M by Radius.
Built in 2013, the newly branded The M by Radius was one of the first buildings constructed in Atlanta coming out of the Fantastic Recession. The property offers a prime location at the corner of West Peachtree and 12th Street, the new epicenter of the city with offices, retail, and entertainment nearby. The ground floor includes 8,658 square feet of retail space.
The M by Radius is the closest high-rise to the I-75/85 connector in Midtown and one of the most visible buildings in the Atlanta skyline, offering exceptional signage or art opportunities on its half-domed roof. The property features frontage on Spring Street, 12th Street, and the bustling West Peachtree Street.
The building consists of studio, one-, two-, and three-bedroom apartments and luxury “amenities in the sky” including a rooftop pool and lounge, fitness center, and grills all with 360-degree views overlooking Atlanta’s skyline. The unit interiors at The M by Radius have modern, open floorplans with ample room for value-add expansion.
“RADCO is pleased to announce we have bought Skyhouse Midtown, our first high-rise, late vintage property acquisition in this cycle,” said Norman Radow, CEO of the RADCO Companies. “As residents and capital migrated to the suburbs during the pandemic, the cost of buying suburban apartment assets also substantially increased. There’s been a recent shift back to the urban core making in-town residential an attractive investment once again. The M by Radius offered everything we were looking for in an urban multifamily asset and as always, we intend to invest in this incredible building and significantly improve the resident experience. RADCO intends to seek out additional urban residential investments throughout the Southeast.”
The M by Radius sits directly across from 1105 West Peachtree, a fully-leased, newly constructed office building that is the plotted new regional headquarters for Google, part of its recently announced expansion in the Atlanta market. In addition, the property is across the street from the culinary-themed Epicurean Hotel, Northside Hospital’s in-town campus, SCAD, Georgia Tech, and other business and cultural attractions.
Skyhouse was first made by the visionary developer Jim Borders and his Novare Group.
The deal represents the 100th transaction for RADCO during the current real estate cycle. The Northmarq team led by Jason Nettles and Megan Thompson brokered the transaction.

Powered by WPeMatico

IRVINE, CA – The Bascom Group has successfully closed the offering for its fifth fully discretionary multifamily real estate investment fund. The fund, Bascom Value Added Apartment Investors V, LLC (“Fund V”), raised equity commitments of $150 million. This equity, with leverage, provides up to $500 million of buying power for multifamily acquisitions in the U.S.
According to Bascom Principal, Chad Sanderson, “We had very strong interest in Fund V and were able to raise the $150 million maximum offering amount. Fund V included high net worth individuals, family offices, and institutions. The bulk of Fund V investors are from RIAs (Registered Investment Advisors) and are repeat investors from previous Bascom-sponsored funds.” Sanderson continues, “Fund V is designed to buy value add, distressed, and opportunistic multifamily properties between $10 million and $90 million.”
To date, Fund V has bought thirteen multifamily properties with a total cost of $460,000,000 and is targeting one to two additional acquisitions. “Our goal is to have Fund V fully invested this year,” comments Jerry Fink, Managing Partner of Bascom. “Our discretionary Fund V structure allows us to not only be disciplined buyers, but to close quickly when we identify attractive investment opportunities. A number of the acquisitions were bought off-market, avoiding the highly competitive bidding process.”
“Fund V includes properties ranging from older workforce housing to newer, higher-quality multifamily communities. We plot to complete a renovation plot targeting unit interiors, building exteriors, and community amenities, in addition to implementing an institutional-quality management team,” adds David Kim, Managing Partner of Bascom. “Even in this low cap rate environment, we see an opportunity to improve operating performance by leveraging our team’s expertise in renovations and operating efficiencies.”
“We are continually evaluating all our markets and targeting inefficiently priced properties for our Fund investments,” clarifies Bascom’s Acquisitions Manager Joe Ferguson. “The Fund has allowed us to spend more time finding the best relative risk-adjusted returns and maximizing property operations.”

Powered by WPeMatico

GRAND PRAIRIE, TX – National multifamily real estate development leader Wood Partners announced the grand opening of its latest luxury residential community, Alta Grand Crossing, in the blossoming neighborhood of Grand Prairie, Texas.
Nestled between Dallas and Fort Worth, Alta Grand Crossing features 322 apartment homes located at 1661 S Forum Drive. The community offers one-, two- and three-bedroom floor plans across the expansive 15-acre property. Positioned minutes from local college campuses, top employers and local attractions, Alta Grand Crossing offers residents local convenience paired with luxury living. Key employers in the area include Airbus, Lockheed Martin, and Bell Helicopter, along with the University of Texas at Arlington and Tarrant County College.
“Alta Grand Crossing strikes the perfect balance between casual comfort and luxury living in a convenient suburban environment,” said Ryan Miller, Managing Director for Wood Partners. “As we welcome residents to one of the newest communities in the Grand Prairie area, Wood Partners looks forward to cultivating a locally-focused community of luxury apartment homes with five-star customer service.”
With spacious nine-foot ceilings, each apartment home is fully outfitted with contemporary design elements including rich wood-style plank flooring, expansive kitchen islands, and gorgeous granite countertops. Additional luxury features offered include state-of-the-art Whirlpool® stainless steel appliances, full-sized in-unit washer and dryer sets, fenced-in outdoor yards, and keyless entry.
Alta Grand Crossing will also provide best-in-class community amenities for residents to delight in, including a resort-style swimming pool, lush courtyards, an expansive on-site pet park and “paw-spa.” The property also houses a lavish resident clubroom and coffee bar, a 24/7 fitness center with a superior collection of traditional and high-tech equipment, and a business center featuring executive conference rooms.
Alta Grand Crossing’s prime location boasts direct access to the President George Bush Turnpike and I-20, making residents’ day-to-day commutes a breeze. In addition, residents delight in simple access to well loved retailers such as IKEA, Home Depot and the Grand Prairie Premium Outlets. The property is also just minutes from Grand Prairie’s new mixed-use development, The Epic, a 170-acre, wide-ranging entertainment destination that includes a year-round waterpark with a retractable roof.

Powered by WPeMatico