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.