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RADCO Cos. Close Deal on Pavilion Property

Real estate company will spend $4.8 million to renovate the apartment complex.

Atlanta-based RADCO Cos. said it closed the deal to purchase the Pavilion at Decatur, a 144-unit apartment complex at 3681 North Decatur Road.

The company, which specializes in acquisitions of distressed properties, plans to spend $4.8 million on the complex to renovate it.

The Pavilion, which is mainly comprised of three-bedroom apartments, will undergo a complete refurbishing, including ground-up construction of a clubhouse, fitness center, pool and playground.

"One of RADCO's strategies is to acquire multifamily properties below market that also have significant upside potential, and Pavilion is such a property," Norman Radow, RADCO's president and chief executive, said in a statement.  "Our plan is to completely transform a previous blemish in the neighborhood into a clean, safe and upscale community.

"Our redevelopment plan coupled with the ongoing construction of the county park will have a profound effect on the quality of life for our residents and the overall community."

The Pavilion acquisition is the eighth property purchase since November and the 16th since RADCO's founding in 2011.

The company now has more than 3,000 units under ownership.

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