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L.A. investment firm acquires 42 Houston rental homes

​​​HOUSTON – Los Angeles-based Pacific Oak Capital Advisors has acquired 42 area single-family homes for $6.45 million.

Pacific Oak paid $153,000 p​​​​​er property on average. The new owner will convert the homes into rental properties and charge about $1,300 per month to rent each home.

The majority of homes are in Baytown, Missouri City, Pasadena, and Texas City. ​​

texaslogo.pngThe Texas Real Estate Research Center has more information on housing:​

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