Rangeline Capital plans to source both the locations and the capital for the projects and will share in the distribution of profits from the same.
"By expanding our business model into a partnership arrangement with a strong national apartment investment group such as Rangeline, we create the ability to extend our reach into key new geographic markets with a strong partner familiar with those markets," says James L. Mandel, chief executive officer of Vicom.
The venture could result in better services for the apartment market and new income streams for property owners and developers, says David B. Weiss, managing principal of Rangeline Capital.
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