La Rosa Holdings acquires real estate brokerage franchisee in California

La Rosa Holdings announced that it has completed an acquisition transaction and now holds a 51% interest in the Company’s franchisee – La Rosa Realty California, located in Hayward, California, with a separate branch in Los Angeles, California. The acquisition comes as part of La Rosa’s strategic expansion plan and brings its previously announced La Rosa’s Ultimate Plan to California. Joe La Rosa, CEO of the Company, commented, “We believe that California’s dynamic real estate market presents exciting opportunities for growth and expansion. In California, home prices have surged by 11.4% year-over-year as of February 2024, reflecting market demand. Despite this surge in prices, the number of homes sold has increased by 8.1% year-over-year as of February 2024, indicating a competitive market environment. We remain committed to enhancing our service offerings and strengthening our position in the real estate industry. We believe that our Ultimate Plan offers unparalleled opportunities for agents to thrive and succeed in the competitive real estate market. With the strength of our innovative offerings and the expertise of our dedicated agents, we believe that we are well positioned to capitalize on the opportunities presented by California’s real estate market. We anticipate that our accretive roll-up strategy will propel us towards achieving our annualized revenue run rate target of $100 million by the end of 2024, with the expectation of attaining profitability in 2025.”