With Portfolio Sale, PIA Group Shifts Focus To MF
MIAMI—Property Investment Advisors Group of Miami has sold a portfolio of 200 single-family homes in South Florida to New York City-based Cerberus Capital Management in a deal valued at $47 million. The deal marks a shift in corporate purchasing strategy for the PIA Group from single-family to multifamily value-add opportunities. PIA Group officials say the […]
Cerberus buys 200 South Florida homes
New York-based Cerberus Capital Management has acquired a portfolio of 200 single-family homes in South Florida for $47 million. Miami-based Property Investment Advisors (PIA) Group had acquired the homes from 2010 through 2013 and operated them as rentals. About 40 percent of them were in Miami-Dade County, another 40 percent in Broward County, and the […]
Property Investment Advisors Group Sells Portfolio of 200 South Florida Single Family Homes for $47 Million
MIAMI – July 24, 2018 – Property Investment Advisors (PIA) Group, a Miami-based private equity real estate investment firm, has sold one of its portfolios of 200 single family homes in South Florida to Cerberus Capital Management of New York, for $47 million. PIA Group will deploy the proceeds toward the acquisition of additional institutional size […]
With $47M Portfolio Sale, PIA Group Shifts Focus to Multifamily
In a deal valued at $47 million, Property Investment Advisors (PIA) Group of Miami has sold a portfolio of 200 single-family homes in South Florida to New York City–based Cerberus Capital Management, reports John Jordan for Globe Street. The transaction signals a change in PIA’s corporate acquisitions strategy from single-family product to multifamily value-add assets. […]