Atlanta-Based Developer the RADCO Companies has made its fourth purchase in Florida with the acquisition of The Park at Sutton Place Apartments in the Orlando submarket of Winter Park. The property, renamed Lakeside at Winter Park, adds 288 units to its portfolio and will be managed by RADCO Residential, the company’s proprietary management platform. Built in 1986, the property consists of 16 two and three-story buildings on a 26.5 acre site. RADCO plans to invest approximately $3.7 million in capital improvements to modernize and upgrade the units, renovate the clubhouse, offices and other facilities.
“This is an exciting property located in a wonderful neighborhood,” said Norman Radow, founder and CEO of The RADCO Companies. “Our close proximity to Full Sail University presents a unique opportunity for RADCO. We are not a student housing company per se, but Full Sail students are different. They are more serious, and their needs are more sophisticated. As a result, we are confident we can create the perfect balance of improved services, amenities and apartment upgrades that promote the value proposition for our residents.”
