HFF named to market single-family home portfolio in Homestead, FL

Jaret Turkell

MIAMI, FL – HFF announced today that it has been exclusively engaged to market the sale of a 116-single family home portfolio in Homestead, Florida.

                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). 

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 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

krmurphy@hfflp.com

www.hfflp.com