DALLAS-Locally based LIG Assets Inc. has acquired a controlling interest of Texas Hill Country Barbecue, located in Irving, TX. With its new acquisition, LIG has submitted a filing with FINRA for a corporate name change to South American Properties Inc., which will acquire and develop real estate properties in South America, specifically, Peru.

According to a press release from LIG, Peru makes sense as an investment target because it has the fastest growing economy in Latin America and was considered one of the world's fastest-growing economies in 2011.

In late December 2012, LIG Assets entered into a strategic alliance with Texas Real Estate Hedge Fund LP to invest, acquire, manage and finance commercial real estate properties throughout the southwest, west and midwest sectors of the United States. The company also has partnerships with MMR Realty Advisors and Inter Continental Real Partners. LIG's focus is multifamily, retail, hotel and office properties with valuations between $3 million and $100 million.

In a previous press release, LIG noted that the goal was to target off-market assets, and to acquire them on a negotiated basis. The belief is that with CMBS repositioning and commercial real estate maturities starting to come due, plenty of opportunity for acquisitions will exist for LIG and its partners.