La Rosa Acquires Fifth Real Estate Brokerage Franchisee with Revenue of $3.6 Million and Positive Net Income in 2022
27 Diciembre 2023 - 8:00AM
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 acquired a 51% interest in
the Company’s franchisee - La Rosa Realty Orlando, LLC (“Realty
Orlando”) located in Orlando, Florida.
Realty Orlando generated revenue of $3.6 million
and had positive net income in 2022. 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, “We
are excited to close on this acquisition. Even though we are
currently in a down market, Realty Orlando was able to achieve
approximately a 14% increase in total transactions closed for 2023
compared to 2022. We believe this is due to our unique brokerage
model, which offers real estate agents the option of a revenue
share model or an annual fee-based model with 100% agent
commissions, which, in our view, is second to none in the industry.
We are executing towards our goal of reaching an annualized revenue
run rate of $100 million before the end of 2024, and have several
more franchisees in the pipeline that we plan on acquiring over the
next several months.”
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. La Rosa has 10 La Rosa Realty
corporate real estate brokerage offices located in Florida, 26 La
Rosa Realty franchised real estate brokerage offices in six states
in the United States and Puerto Rico. The Company's real estate
brokerage offices, both corporate and franchised, are staffed with
more than 2,470 licensed real estate brokers and sales
associates.
For more information, please
visit: https://www.larosaholdings.com.
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Forward-Looking Statements
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, 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.
For more information, contact:
info@larosaholdings.com
Investor Relations Contact:Crescendo
Communications, LLCDavid Waldman/Natalya RudmanTel: (212) 671-1020
Email: LRHC@crescendo-ir.com
La Rosa (NASDAQ:LRHC)
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La Rosa (NASDAQ:LRHC)
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