“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal
Source: TheRealDeal Blackstone president says company going deep into multifamily and data centers. There are only a handful of 11-figure real estate deals each cycle, and Jon Gray shared his thoughts on the $10 billion one that epitomizes exactly where we are today. Blackstone last week announced it had agreed to pay that sum to Apartment Income REIT, […]
Post-Bubble Blues: CRE Investment in an Era of Higher Rates
PIA Fund Takes Aim At Apartment Bargains
PIA Residential, a longtime investor in multifamily buildings, is amassing a war chest to buy apartment properties at discounts it expects will emerge soon. The Miami-based shop is preparing to raise $100 million of equity from investors in Latin America for a fund known as PIA Residential Fund 1. The marketing campaign is expected to […]
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 […]
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. […]