ATLANTA-RADCO is returning to its real estate investment roots with the acquisition of two multifamily properties. RADCO is best known as a real estate turn around consultant, but the company is turning its attention to making investments of its own.

RADCO snapped up Somerpoint, a 144-unit development on Austell Road in Cobb County just north of Atlanta. An underperforming boutique property, Somerpoint has been in receivership since December 2010 on behalf of a special servicer. RADCO also bought Flynt Ridge, a 77 two-bedroom townhome asset, in Griffin, 30 minutes south of Atlanta's airport. RADCO plans to increase occupancy and rents through hands-on asset management, upgrades and repositioning the properties.

"Since 2006, we have focused exclusively on putting our development and operating expertise to work for clients who were struggling to build value in challenging markets and we have built out a perfect machine to manage every aspect of a troubled asset's lifecycle—whether completing construction, settling or prosecuting litigation, selling residences or the properties themselves," Norman Radow, CEO of the RADCO Cos., said in a statement. "With these two acquisitions, we have the opportunity to become our own client, bringing properties under the RADCO umbrella of services for comprehensive turnaround and building value."