foreclosures: New Investment Fund Targets Foreclosures
- 07/11/08 04:03 PM
Vulture funds, as the name suggests, swoop in and buy bankrupt companies and then sell them with a profit in mind. Now a similar investment fund here recently formed to target distressed or foreclosed properties - whose numbers continue to rise each month. Northbrook-based Hilco Residential Partners LLC is a new residential real estate investment fund chartered to purchase residential homes, mortgages and unsold developer assets directly from lenders. The group debuted recently as a joint venture between Hilco Real Estate LLC and Real Estate Principal Solutions LLC. One partner will buy and the other will market the properties to sell. … (2 comments)
Vulture funds, as the name suggests, swoop in and buy bankrupt companies and then sell them with a profit in mind.;)
;)
