Desert Capital REIT Inc., Henderson, Nev., has announced the acquisition of the final 22% of Consolidated Mortgage LLC, a private trust deed investment firm also based in Henderson.Desert Capital noted that it first announced the acquisition in November 2004 with an initial purchase of 25% of the outstanding equity, and bought an additional 23% in January, 11% in April, and 19% in July. The installment payments totaled $9 million in cash plus 450,000 shares of Desert Capital common stock, the real estate investment trust reported. The REIT can be found online at http://www.desertcapitalreit.com.
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