Pia Residential

PIA Residential Snags Jacksonville Apartment Property for $33M

The 284-unit community was built 1968 and 1974 by: Katie Garwood Staff Writer Miami-based PIA Residential announced Nov. 17 it acquired St. John’s Pointe Apartments in Orange Park for $33.4 million. PIA Residential and Des Moines-based BH Equities closed on the 284-unit community at 114 Old Orange Park Road on Oct. 30. The seller was Tampa-based WRH […]

St. John’s Pointe Apartments sold for $33.4 million

The 284-unit community was built 1968 and 1974 by: Katie Garwood Staff Writer Miami-based PIA Residential announced Nov. 17 it acquired St. John’s Pointe Apartments in Orange Park for $33.4 million. PIA Residential and Des Moines-based BH Equities closed on the 284-unit community at 114 Old Orange Park Road on Oct. 30. The seller was Tampa-based WRH […]

Why a Miami Apartment Investor Took a Year to Make First Deal

PIA Residential Plans to Buy 10,000 Units in Next Decade Crystal Lake Apartments’ Miami-based owner plans renovations at the 22-year-old complex in Pensacola, Florida. (CoStar) A year after it transitioned its investment strategy from single-family homes to apartments, a Miami-based firm has made its first acquisition. PIA Residential bought the Crystal Lake Apartments in the […]

Home-Rental Firm Seeks Apartments

A firm that built its business buying distressed single-family houses and turning them into rentals is now switching strategies and pursuing traditional multi-family properties. PIA Residential is the new name of a Miami shop that jumped into the South Florida housing market during the downturn a decade ago, snatching up hundreds of foreclosed homes at […]

PIA Residential Acquires 224-Unit Crystal Lake Apartments in Pensacola, Florida for $26.3 Million

PENSACOLA, FL – In its first acquisition since transitioning from single-family rental homes to institutional multifamily apartments, PIA Residential of Miami has acquired Crystal Lake, Apartments, a 224-unit value-add community in Pensacola, FL for $26.3 million. The 24-acre Class B rental community at 7680 West U.S. Highway 98, is 98 percent occupied. “Crystal Lake has the […]

Senior Financial Analyst – Multifamily Investments

Senior Financial Analyst – Multifamily Investments Location: Miami, Florida PIA Residential is a private equity real estate investment firm specializing in the acquisition, renovation, and management of Institutional Multifamily properties across the Southeast. Originally formed in 2009 to capitalize on the opportunity of acquiring large numbers of Single Family Homes, PIA currently owns and manages […]

PIA Group USA Completes Portfolio Transformation with Yardi Matrix

PIA Group USA has completed a decade-long transformation of its portfolio from single family homes to multifamily properties, relying on Yardi® Matrix for market intelligence to identify and evaluate acquisitions. PIA initially created its own solution for managing acquisitions. After finding software maintenance a burdensome addition to its core acquisition, remodeling and management activities, the company selected […]

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 […]