RADCO Residential Property Management Platform Tops 5,200 Units for Third Party Investors and Owned Properties
ATLANTA, April 10, 2023 — The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, announced their RADCO Residential management services platform is now managing over 5,200 residential apartments, comprised of properties for third-party owners as well as multiple assets within RADCO’s own portfolio.
Led by COO Mike Brewer, RADCO Residential manages its own and client multifamily properties throughout the entire asset lifecycle including due diligence, acquisition, capital improvements, marketing, value enhancement and final disposition.
The unit count includes approximately 3,800 third party apartments currently under management, and RADCO Residential also oversees another 1,400 apartments in properties owned by RADCO.
Current apartments managed by RADCO Residential are spread throughout four major U.S. markets with the majority based in the greater metro Atlanta region and the rest located in the Raleigh, St. Petersburg, and Virginia Beach markets. RADCO Residential also has the capability of expanding its property management services to other markets based on both the needs of clients and as the platform identifies new growth areas.
“Owners need a dependable property management resource to take meticulous care of their assets, as well as the people who live in them, and RADCO Residential is pleased to serve in that role,” said Brewer. “The response to our platform from third party investors and asset managers we have partnered with has been exceptional. We have a proven track record with performance results that speak for themselves, and look forward to continuing this rapid expansion.”
The RADCO Companies has acquired, invested in, and operated over 30,000 multifamily units across 15 markets during the last decade. Initially, external management companies were employed to oversee daily operations of its portfolio, but it became clear that standardized management was an ineffective approach. RADCO Residential was formed as the solution, and after an extensive successful track record across its own portfolio, the platform was offered to third party multifamily owners and investors.
Norman Radow, CEO of the RADCO Companies, notes the 2021 expansion of RADCO Residential into third party management began only when the firm was fully prepared to create superior results for clients. The platform’s success and rapid expansion in less than two years validates the launch of RADCO’s exclusive operational platform to owners outside the company’s portfolio.
“FCP has been very pleased with RADCO’s approach to managing our growing multifamily portfolio in Atlanta,” adds Cristina Istrate with FCP, a RADCO Residential third-party client. “Their teams have brought a people-first approach to our onsite management offices while their leadership and strategic skills support us in the execution of our business plans. RADCO has demonstrated a comprehensive understanding of the Atlanta market and brings that skill and experience to our properties each and every day.”
Key features of the RADCO Residential platform include:
- Centralized and automated operations
- Full stack tech solutions
- Modified cash/accrual accounting methods
- Capital Improvement expertise
- Preventative maintenance, scheduled inspections, and Safety Ambassador program
- Risk Management through General Liability and Contents Coverage plans
- In-house data analytics to measure success of property marketing campaigns
- Dynamic social responsibility through the RADCO Caring in Action and RADCO Cares service programs
The RADCO Companies
The RADCO Companies was founded in 1994 with the mission of “Building Better Living.” Headquartered in Atlanta, RADCO has proven success in opportunistic real estate investments across all asset classes. Over the last decade, RADCO largely focused on multifamily investments, but recently broadened its investment strategy to include new development, hospitality, and industrial projects, while also expanding its multifamily property management platform. The real estate company, which focuses on the Southeast and Central U.S., has invested in about 30,750 multifamily units in 15 markets, acquired ten hotels in the southeast, and completed more than 100 deals totaling $3.3 billion over the past decade.