SAN FRANCISCO-San Francisco-based Landsmith LP and Detroit-based Precise Associates LLC have formed a joint venture to invest $100 million in purchasing single-family homes and offer the homes for rent. The Landsmith-Precise venture already owns a portfolio of more than 1,000 homes in California, Arizona, Michigan, North Carolina and Michigan.
The joint venture announced its first acquisition of homes in North Carolina and is spending $2 million in Michigan and $10 million in Florida. For the full story, go to San Francisco Business Times .
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