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HOUSTON-Landsmith LP has acquired 455 single-family rental homes in three markets, paying $48 million for the assets. More than half the homes – 250 of them – were acquired in Houston for $32.2 million.

According to a press release from San Francisco-based Landsmith, the Houston homes were completed in 2012 and leased up with the intent to package them as a portfolio investment.  That portfolio investment, by the way, was 98% leased at closing.

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