La Rosa Holdings Acquires Rest of Florida Brokerage
La Rosa Holdings has acquired the remaining 49% interest in a Florida-based brokerage with $5.1 million in trailing twelve-month revenue. The acquired firm, Prestige, ranked third in Polk County, Florida, by both agent count and total real estate sales volume over the last year. The move consolidates La Rosa's ownership of the profitable operation.
- The acquisition of the remaining 49% of La Rosa Realty Prestige cost La Rosa Holdings $350,000 in cash. - The deal was structured with a $150,000 payment within 10 days of closing, followed by 12 monthly installments for the remaining $200,000. - La Rosa Realty Prestige, which operates in Lakeland and Winter Haven, has 138 agents who completed 420 transactions last year. - This move is part of a broader strategy for La Rosa Holdings, which recently announced plans to acquire land in Osceola County to build a Tier III AI data center. - The Polk County real estate market is seeing an increase in inventory, giving buyers more options, with the median home sale price sitting around $300,490 to $312,000. - La Rosa Holdings' CEO, Joe La Rosa, has been in his role since August 2021. - The company has also recently seen a change in its board of directors, with Michael La Rosa resigning. - Beyond its 24 corporate-owned offices in the U.S. and Puerto Rico, La Rosa Holdings has begun expanding into Europe, starting with Spain.
