Atlanta investors double down on Clearwater with $34M apartment buy

An Atlanta investor is betting big on Clearwater’s rental market, acquiring the 276-unit Bay Meadows apartment community for $34.15 million.

Radco Companies announced the acquisition Thursday. The purchase price breaks down to $123,731 per apartment.

Bay Meadows is Radco’s second acquisition in Clearwater in three months. In February, Radco acquired the 228-unit City Park Clearwater apartments.

The group is planning to spend $3.55 million on renovations to the property, which is 97 percent occupied… …read more