La Rosa Holdings Corp LRHC has acquired a 51% interest in the company's franchisee - La Rosa Realty Premier in Orlando, Florida.
Last week, La Rosa Holdings exclusively told Benzinga that it acquired a 100% interest in the company's franchisee - La Rosa Realty CW Properties in Longwood, Florida.
Realty Premier generated revenue of $2.7 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, "As stated previously, our goal is to reach an annualized revenue run rate of $100 million before the end of 2024. We have an additional eight franchises in the pipeline, which we expect to acquire in the next six to eight months. We are also evaluating other acquisitions in the real estate sector that can further contribute to our growth."
"These acquisitions would contribute to both our top-line and bottom-line growth, as we believe that our current infrastructure is set up to support five times our current agent count," Joe La Rosa added.
Price Action: LRHC shares are down 2.56% at $1.52 premarket on the last check Wednesday.
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