Texas-based Halo Companies, Inc., a consumer financial services company, has acquired Equitas Asset Management, LLC and Equitas Housing Fund, LLC (the “Fund”).

The $20 million Fund is a real estate venture that invests in single-family residential real estate across the United States. It primarily invests in undervalued or distressed properties at or below replacement cost through bank-owned real estate and non-performing mortgages.

“This program offers significant benefit to the existing homeowner or new homebuyer and the community in which the property is located,” said Reif Chron, VP and general counsel of Halo Companies, Inc. “Once this fund’s resources have been fully deployed, the company contemplates establishing additional funds to continue these efforts.”

The Fund allows families to purchase or retain their homes on an affordable monthly payment plan, averaging $350 per month. The goal is to stabilize neighborhoods, keep children in schools, and provide homeowners the opportunity to build substantial equity, according to Halo.

The Fund will typically monetize the seasoned residential mortgage notes after they have been held for some period of time.

“The real estate market has experienced a tremendous shift the last several years creating great opportunities for Halo,” said Cade Thompson, chairman and CEO of Halo Companies, Inc. “This transaction is the culmination of two years of re-tooling the entire Halo product mix for integrated applications in this new space.”