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La Rosa Holdings Corp. (LRHC) has acquired a 51% interest in La Rosa Realty Lakeland , generating $4.7 million in revenue with positive net income in 2023. Prestige is ranked number two in agent count and number three in real estate sales in Polk County, Florida. La Rosa aims for a $100 million annualized revenue as a 2024 exit run rate, focusing on acquiring profitable franchisees to strengthen market position and create shareholder value.
La Rosa Holdings Corp. (LRHC) ha acquisito una partecipazione del 51% in La Rosa Realty Lakeland, generando 4,7 milioni di dollari di entrate con un risultato netto positivo nel 2023. Prestige si classifica al secondo posto per numero di agenti e al terzo per vendite immobiliari nella contea di Polk, Florida. La Rosa punta a un fatturato annuale di 100 milioni di dollari come tasso di uscita per il 2024, concentrandosi sull'acquisizione di franchisee redditizi per rafforzare la posizione di mercato e creare valore per gli azionisti.
La Rosa Holdings Corp. (LRHC) ha adquirido un 51% de interés en La Rosa Realty Lakeland, generando ingresos de $4.7 millones con un ingreso neto positivo en 2023. Prestige se clasifica en segundo lugar en cantidad de agentes y tercero en ventas de bienes raíces en el condado de Polk, Florida. La Rosa tiene como objetivo lograr ingresos anuales de $100 millones como tasa de salida para 2024, centrando su enfoque en adquirir franquicias rentables para fortalecer su posición en el mercado y crear valor para los accionistas.
La Rosa Holdings Corp. (LRHC)은 La Rosa Realty Lakeland의 51% 지분을 인수하여 2023년에 470만 달러의 수익과 긍정적인 순이익을 창출하였습니다. Prestige는 Polk County, Florida에서 에이전트 수에서 2위, 부동산 판매에서 3위를 차지하고 있습니다. La Rosa는 2024년을 목표로 1억 달러의 연간 수익을 달성하고자 하며, 시장 위치를 강화하고 주주 가치를 창출하기 위해 수익성 있는 프랜차이즈를 인수하는 데 집중하고 있습니다.
La Rosa Holdings Corp. (LRHC) a acquis 51 % des parts de La Rosa Realty Lakeland, générant un chiffre d'affaires de 4,7 millions de dollars avec un bénéfice net positif en 2023. Prestige est classé deuxième en nombre d'agents et troisième en ventes immobilières dans le comté de Polk, en Floride. La Rosa vise un revenu annuel de 100 millions de dollars comme taux de sortie pour 2024, en se concentrant sur l'acquisition de franchisés rentables pour renforcer sa position sur le marché et créer de la valeur pour les actionnaires.
La Rosa Holdings Corp. (LRHC) hat einen 51%-Anteil an La Rosa Realty Lakeland erworben und erzielte 2023 Einnahmen von 4,7 Millionen Dollar mit einem positiven Nettoeinkommen. Prestige ist die Nummer zwei bei der Agentenzahl und die Nummer drei bei den Immobilienverkäufen im Polk County, Florida. La Rosa strebt für 2024 einen jährlichen Umsatz von 100 Millionen Dollar als Ausstiegsrate an und konzentriert sich darauf, profitable Franchise-Unternehmen zu erwerben, um die Marktposition zu stärken und den Aktionärswert zu steigern.
Positive
Acquisition of a 51% interest in La Rosa Realty Lakeland with $4.7 million revenue and positive net income in 2023
Prestige ranked number two for agent count and number three for real estate sales in Polk County, Florida
La Rosa targets $100 million annualized revenue in 2024 with a roll-up strategy focused on profitable franchisee acquisitions
Integration of acquisitions for enhanced operating efficiencies and economies of scale to strengthen competitive position
Anticipated profitability in 2025
Negative
None.
Insights
La Rosa Holdings Corp.'s acquisition of the 51% interest in La Rosa Realty Lakeland, brandishing the name 'Prestige', underpins a calculated roll-up strategy. By assimilating Prestige, a brokerage with a robust financial performance including $4.7 million in revenue and positive net income, La Rosa is not just increasing its revenue streams but also bolstering its market share in Polk County. Given the competitive landscape of real estate, where local market dominance can dictate a company's bargaining power and brand recognition, this move potentially enhances La Rosa's leverage in both residential and commercial sectors. Investors should note the strategic intent to further operational efficiency and economies of scale, which can translate into margin improvement. However, it's important to monitor subsequent quarterly results for evidence that these synergies are being realized.
From a financial standpoint, La Rosa's commitment to achieve an annualized revenue run rate of $100 million by the end of 2024 is an ambitious target. The successful integration of Prestige is a step towards this goal. Investors should pay attention to the integration process, as it can affect the profitability and operational effectiveness. A successful integration can lead to cost savings and revenue growth, thus positively impacting the bottom line. It's also essential to watch for the company's ability to scale without incurring disproportionate increases in operational costs. The anticipated profitability in 2025 sets a tangible timeline for seeing returns on investments made in these strategic acquisitions.
The brokerage's high agent count and significant sales volume indicate a strong operational foundation, which can be an attractive draw for potential agents and clients. The dual-location nature of Prestige, with branches in Lakeland and Winter Haven, gives La Rosa a wider geographic footprint that can attract a broader customer base and enhance service offerings. Investors should consider the potential long-term value creation from this acquisition, looking at factors such as market penetration, brand consolidation and the possible appreciation of the underlying real estate assets. However, real estate markets are sensitive to economic fluctuations and it will be essential to track market trends in Polk County and neighboring regions. The investor community will also be looking for clear indications of the success of this expansion strategy in the coming quarters.
Brokerage Ranked Number Two for The Highest Agent Count and Number Three in Real Estate Sales in Polk County, Florida in 2023
Reaffirms target anticipated to generate $100 million of annualized revenue as a 2024 exit run rate
Celebration, FL, April 25, 2024 (GLOBE NEWSWIRE) -- La Rosa Holdings Corp. (NASDAQ: LRHC) (“La Rosa” or the “Company”), a holding company for five agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced that it has completed an acquisition transaction and now holds a 51% interest in the Company’s franchisee - La Rosa Realty Lakeland LLC (DBA La Rosa Realty Prestige) (“Prestige”), located in Lakeland, Florida with a separate branch in Winter Haven, Florida.
Prestige generated revenue of $4.7 million and had positive net income in 2023. The franchisee provides residential and commercial real estate brokerage services. It also provides coaching and support services to agents on a fee basis.
Joe La Rosa, CEO of the Company, commented, “With 162 agents, Prestige has solidified its position as number two for agent count and number three for real estate sales in Polk County, Florida in 2023. This latest acquisition represents yet another milestone for the Company, aligning with our roll-up strategy focused on acquiring profitable franchisees and further solidifying our market position while creating value for shareholders. This acquisition is expected not to only increase our revenue but also, as we seamlessly integrate this and prior acquisitions, we anticipate gaining the rewards of enhanced operating efficiencies and economies of scale. We believe that these advantages will further strengthen our competitive position in the market and fuel our journey towards sustainable growth. With this strategic expansion strategy firmly in place, we believe we are positioned for significant advancement and remain on track to achieve our goal of reaching an annualized revenue run rate of $100 million by the end of 2024. Furthermore, we anticipate attaining profitability in 2025.”
About La Rosa Holdings Corp.
La Rosa is a holding company for five agent-centric, technology-integrated, cloud-based, multi-service real estate segments. In addition to providing person-to-person residential and commercial real estate brokerage services to the public, the Company cross-sells ancillary technology-based products and services primarily to its sales agents and the sales agents associated with their franchisees. La Rosa's business is organized based on the services they provide internally to their agents and to the public, which are residential and commercial real estate brokerage, franchising, real estate brokerage education and coaching, and property management.
This press release contains forward-looking statements regarding the Company’s current expectations that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, our ability to successfully integrate acquisitions into our business operations, to achieve economies of scale, customer acceptance of new services, the demand for the Company’s services and the Company’s customers' economic condition, the impact of competitive services and pricing, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission (the "SEC”). You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the headings “Risk Factors” and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements contained in this press release are made only as of the date of the this press release, and La Rosa does not undertake any responsibility to update any forward-looking statements in this release, except as may be required by applicable law. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
