In House Group has bought Wigan-based developer Berrymount.
The AIM-listed company, which focuses on purchase for resale, has paid £2.34m for the Berrymount, which owns 28 properties in the north-west.
The portfolio brings in £220,000 a year and an independent valuation looks set to value the portfolio at more than £3.3m.
The deal was financed by In House’s new £10m facility with Dunfermline Building Society.
In House, formed in 1997 by managing director Marcus Cassidy, has paid £2.3m in cash and £40,000 in shares at 0.4p each.