LITTLE ROCK, Ark.--(BUSINESS WIRE)--Radius Group, LLC announced today the successful completion and closing of Radius Real Estate Fund No. 1 LP. Fund No.1 is a $4.6 million private equity investment in 32 single-family homes in Northwest Arkansas. The Fund is the first of several planned private equity ventures to be organized and funded by Radius Group over the next few years. All of the funds will be organized to provide a vehicle for Radius Group’s community bank customers to sell their bank-owned properties (OREO) to the investor community.
Radius Group was founded in 2010 by a group of executives experienced in banking, real estate, and information technology. The company provides proprietary software (RadiusTrak) and consulting services that assist community banks with elevated levels of OREO.
“RadiusTrak is a cost-efficient web-based application for banks to manage and account for OREO assets,” says Mike Montgomery, CEO/Founder of Radius Group. “RadiusTrak also provides an aggregated view of the assets owned by all customers in a region so we can assemble pools of assets for sale. This Fund and future funds add a significant additional dimension to our service offering by providing the ability to reach smaller local investors and other investors previously focused only on regional and national banks.”
“We are providing both liquidity and pricing that community banks find attractive, while producing excellent returns for investors,” added Montgomery.
Radius Group has community bank customers in Arkansas, Texas, Oklahoma, Missouri, Tennessee, Alabama, Mississippi, and Louisiana. The RadiusTrak database currently supports over $700 million of bank-owned real estate.
