The Pavilion Fund, a real estate adviser partially owned by Amresco Inc., bought $101 million of nonperforming Thai mortgage loans.

The loans will be serviced by Amresco.

The fund plans to invest a minimum of $278 million this year, buying nonperforming loans, real estate, and commercial real estate leaseback agreements.

The fund, with offices in Dallas and Bangkok, is a joint venture of Amresco; Charoen Pokphand Group, a Thai agroindustrial business; and Koll Development Co., a California real estate developer.

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