 |
| Jaret Turkell |
HFF’s
Florida multi-housing group is marketing the portfolio on behalf of the seller,
13th Floor Investments. There is no
formal asking price for the offering.
The
116 homes are located 26 miles south of Miami in the suburb of Homestead,
centered around the Homestead Hospital, which recently opened its new $135
million facility. The homes are located
within a two-mile radius of each other and are close to the Homestead Air
Force Base and Homestead Miami Speedway.
The average portfolio-wide vintage for the homes is 2006 and they
average approximately 1,708 square feet.
 |
| Matt Mitchell |
The
HFF team representing the seller is led by directors Jaret Turkell and Matt
Mitchell and supported by real estate analysts Maurice Habif and Scott
Wadler.
“There is significant pent up demand for single family residential
product as investors view the asset class as an opportunity to achieve a stable
yield coupled with steady capital appreciation. Nation-wide home prices have increased by approximately 4.8% over
the last year representing the largest gain since 2005. This offering is a unique opportunity for an
investor to gain scale in what is a high-demand and product starved market”,
said Turkell.
 |
| Homestead Airforce Base, Homestead, FL |
The seller, 13th Floor Investments, is a Florida-based,
vertically integrated real estate investment and management firm that has been
involved in various aspects of the real estate industry for the past
decade.
Originally started as a development entity, the firm has shifted
its focus towards opportunistic and value-add real estate investments in early
2008. Since then the firm has developed
a strong program of identifying, acquiring, managing, and successfully exiting
real estate assets.
HFF’s six-member Florida multi-housing group has closed more
than $808 million of multi-housing transactions for the 12 months ending
October 15, 2012. Holliday Fenoglio
Fowler, LP (“HFF”) and HFF Securities LP (“HFFS”) are owned by HFF, Inc. (NYSE:
HF).
.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |
www.hfflp.com
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