A Los Angeles firm has jumped into a macro version of buying a bank repo.

It scooped up 187 home lots and 35 unfinished homes, buying half of a repossessed Elk Grove subdivision named Monterey Village.

The announcement this week by Strategic Investment Partners is a new sign of money looking beyond the capital region’s housing bust to better days. It’s also the newest chapter inside a slow reshuffling of future home lots as builder fortunes rise and fall.

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