DALLAS-Westmount Realty Finance LLC, a private realty investment company, has established a residential asset investment fund to purchase non-performing residential mortgages and residential properties from lenders. The $10 million fund called WRF Distressed Residential 2011 Fund LLC will concentrate on the US markets that experience high foreclosure rates.
The fund will collaborate with companies dealing with bulk acquisitions of troubled residential properties. Westmount has acquired over 530 troubled residential properties in the past one year.For the full story, go to Dallas Morning News.
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