Correction: La Rosa Acquires Real Estate Brokerage Franchisee in Georgia with Revenue of $3.4 Million in 2023
13 Marzo 2024 - 7:20AM
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 Georgia LLC (“La Rosa
Georgia”), located in Gainesville and Alpharetta, Georgia.
La Rosa Georgia generated revenue of $3.4
million and reached break-even 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, “As
reported by Zillow, Atlanta, Georgia, is predicted to be one of the
hottest housing markets in 2024. Specifically, they expect Atlanta
to be the nation’s 6th hottest housing market in 2024 out of the
top 50 metropolitan areas by population. This is due to strong
demand, steady home values, a growing number of homeowners and job
growth. We believe, our office, located in Alpharetta, which is a
part of the Atlanta metropolitan area, is ideally located to
capitalize on this growth in the housing market.”
“We now have a strong track record acquiring and
integrating franchisees into our organization, resulting in
streamlined operations as Company-owned locations. Looking ahead,
we have additional franchisees and two ancillary services companies
that we are also looking to acquire. We believe our accretive roll
up strategy will allow us to reach our annualized revenue run rate
target of $100 million before the end of 2024, with the expectation
to become profitable in the beginning of 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.
For more information, please
visit: https://www.larosaholdings.com.Stay connected with La
Rosa, sign up for news alerts
here: larosaholdings.com/email-alerts.
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)
671-1020Email: LRHC@crescendo-ir.com
La Rosa (NASDAQ:LRHC)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
La Rosa (NASDAQ:LRHC)
Gráfica de Acción Histórica
De May 2023 a May 2024