Galium Capital announced today the listing of a 35+ single-family home portfolio across South Florida for $10 million. The stabilized portfolio features homes which are located across several recently built communities in cities such as Doral, Homestead, Coconut Creek, Stuart, Miami and Hialeah.
The listing comes at a time when population growth in Southeast Florida has surpassed the pace of new home construction in the past 7 years. Nationwide, appetite for single family home rentals is growing faster than that of apartment rentals and South Florida’s rental market is expected to grow faster than the national average. Single family homes are the largest residential rental asset class.
The homes are of the highest-quality in their segment, built by one of the nation’s most reputable home builders. The new construction homes, finished in 2017, feature 2-floor concrete block construction as well as ready-to-move-in finishes including stainless steel appliances, granite counters, smart home technology, keypad entry and smart thermostats. The portfolio also includes community model home which include high-end finishes and homesite premiums. The community HOA’s are approved for FHA lending to home buyers and include resort style amenities.
This one-of-a-kind investment opportunity allows the bulk buyer to purchase the homes at 7.5% below retail value and 33% below replacement cost. The portfolio also boasts a high tenant profile with an outstanding performance record of 90% + occupancy. The strong occupancy is a result of the high demand in single-family rentals in South Florida. The current owner has a strict acceptance criteria including credit score, background check and collection standards. The highly liquid product gives the owner the opportunity to obtain value through rental yield or capitalizing on the gap between acquisition price and today’s retail market value.
For more information, please contact Galium Capital at 305-433-2008 or www.galiumcapital.com.
About Galium Capital:
Aventura-based Galium Capital owns more than $300 million in commercial assets across the United States with asset management and property management performed in-house. Galium Capital invests in multifamily residential, retail, hotels and office space. Galium Capital is led by Jacques Bessoudo and Iser Rabinovitz.