La Rosa Holdings Corp announced that it has entered into a non-binding Letter of Intent to acquire Celebration Corporate Center LLC.

The Company expects to acquire this entity through its wholly-owned subsidiary, La Rosa Property Management LLC (“LRPM”).

As a result of the acquisition, LRPM will become a direct owner of Celebration Corporate Center LLC and its commercial real estate located in Celebration, Florida.

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LRPM specializes in property management services for single-family residential property owners and manages a diverse portfolio of properties across Florida.

The Company anticipates finalizing the transaction in the third quarter of 2024.

According to their management, since its grand opening in 2008, Celebration Corporate Center has been Celebration’s only full-time executive center offering both full-time offices and virtual office solutions.

Celebration Corporate Center specializes in virtual offices, executive suites, reception services, and meeting room rentals. It has 32 full-time offices and 248 virtual offices.

Joe La Rosa, CEO of the Company, commented, “LRPM properties under management increased by 17% year-to-date. We anticipate that properties under management will continue growing throughout the year and expect the annual growth rate to be at least approximately 30%. The continued growth in properties under management is expected to contribute to a significant increase in top-line revenue in 2024. We look forward to continuing on our trajectory toward achieving our annualized revenue run rate target of $100 million by the end of 2024, with the expectation of attaining profitability in 2025.”

Price Action: LRHC shares closed lower by 2.72% at $1.43 on Tuesday.

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