Skyhouse Midtown is now The M by Radius. Courtesy of The RADCO Companies.
Atlanta-based real estate investor The RADCO Companies acquired the 320-apartment Skyhouse Midtown luxury high-rise for $131 million.
RADCO has renamed the 23-story tower The M by Radius. The Radius brand is RADCO’s premium property line. The company also owns the Radius West Midtown, a five-story community on Bishop Street NW.
“As residents and capital migrated to the suburbs during the pandemic, the cost of buying suburban apartment assets also substantially increased,” RADCO CEO Norman Radow said in a press release. “There’s been a recent shift back to the urban core, making in-town residential an attractive investment once again. The M by Radius offered everything we were looking for in an urban multifamily asset and, as always, we intend to invest in this incredible building and significantly improve the resident experience.”
Built in 2013, the building is the first high-rise RADCO has purchased in the current investment cycle. It is located on the corner of West Peachtree and 12 Street and offers 8,658 square feet of retail space on the ground floor. Amenities include a rooftop pool and lounge, fitness center and grills all with views overlooking Atlanta’s skyline. Apartments are available in studio and one-, two- and three-bedroom configurations.
RADCO noted that the building’s close proximity to the Downtown Connector makes it particularly visible, presenting “exceptional” signage or art opportunities.
The transaction was brokered by the Northmarq team, which was led by Jason Nettles and Megan Thompson.