RADCO Makes Four Big Exec Moves

ATLANTA—RADCO has promoted four of its team members to the executive ranks. Robert Clark was promoted to Chief Financial Officer. Zach Finkel is the new vice president of private equity. Rebecca Johnson was named vice president of accounting and property controller. And Mike DeSarno is officially the firm's vice president of construction.

These moves come just after a whirlwind month that saw RADCO add five multifamily properties to its growing portfolio. RADCO spent $145 million for 15,90 units, and has raised $310 million in private capital to fund its purchases. All told, RADCO owns about 13,300 apartments in eight states throughout the southeast and central United States with an asset value of $1.3 billion.

“There has been an influx of capital, especially from foreign funds and Wall Street, chasing yield,” Clark tells GlobeSt.com. “This is especially relevant as cap rates and interest rates both remain low. RADCO is committed to its business strategy of targeting value-added properties, with a particular focus on markets with both strong job and population growth. We will continue to target markets where we have seen success in the Southeast and Midwest, but we are not opposed to investing in new markets in 2016 if the right opportunity arises.”

Clark was previously the director of capital markets. After working two years at Hanover Insurance and completing its Future Leaders Program, Clark put his risk assessment skills to the test and spent a year playing professional poker in Las Vegas. Clark then joined RADCO as an analyst and was promoted to director of Capital Markets shortly afterward.

Finkel was promoted from his previous role as the firm's director of private equity. He is charged with raising private capital from the company's close-knit investor community. The company has raised $310 million of private capital to fund its acquisitions.

Johnson now manages the preparation of all financial reports, monitors and analyzes monthly operating results, and oversees the daily operations of two accounting departments. She previously served as the company's construction controller. She began her career at RADCO as a senior accountant.

DeSarno previously served as assistant vice president of construction. Prior to joining RADCO, he was with NVR, where he started as superintendent and later became a senior project manager. DeSarno oversees RADCO's $70 million a year renovation budget and leads a team of 15 construction managers and field supervisors.

RADCO employs 75 professionals above property level, as well as its management arm, RADCO Property Management, and an IT company it acquired this summer. RADCO has an additional five properties under contract set to close in October through early 2016.