Real Estate Developer Buys Distressed Norcross Apartment Complex

RADCO Companies, a leading real estate turnaround specialist, is hoping to morph a distressed Norcross property into something inviting for potential renters.

The company recently acquired Alderwood at the Lake, a 14-year-old property located off of Jimmy Carter Boulevard on Sunrise Village Lane, for $16.5 million, according to a press release.


"We are intimately familiar with the Georgia marketplace and have invested a significant amount of capital into the community," said Norman Radow, chief executive officer of RADCO.

He continued:

"In particular, Metro-Atlanta has enjoyed an improved job market, with recent employment increases in construction, retail and hospitality.

"In fact, a Super Wal-Mart opened within walking distance of the property just last week.

"We expect to acquire additional properties in Georgia over the coming months."