European firm sells portfolio of South Florida rental homes

Company led by real estate investor Joshua Wagschal bought the 53-unit portfolio

TRD MIAMI /
Mar.March 30, 2018 11:30 AM

Yoni Dahan and rental homes

UPDATED, 5 p.m., April 4: A company tied to European real estate development and management firm Gram Group just sold a portfolio of single-family rental homes in Miami-Dade, Broward and Palm Beach counties for $7.8 million.

Exceptional Homes Restorations LLC, led by real estate investor, Joshua Wagschal, paid about $147,000 per property. The portfolio includes 52 single-family homes and one four-unit multifamily building, most of which are in Broward County. Two properties are in Miami-Dade and one is in Palm Beach County.

Gram Group spent about $4.5 million acquiring the homes between 2010 and 2013, broker Yoni Dahan said. Dahan worked on renovating and managing the rental properties, which he said were distressed when Gram bought them. The buyer will continue to rent the homes out.

Robert Rabinowitz of ​The Company Real Estate represented Gram and the DeMarco Group/ReMax 5 Star represented the buyer.

The new tax law is expected to push more Americans away from home ownership and into renting, boosting multifamily markets across the U.S.

Last year, Amherst Holdings paid $25.7 million for a portfolio of single-family rental homes in Broward and Palm Beach counties. In addition to picking up portfolios of single-family home rentals, private equity firms like Electra America are also launching funds focused on multifamily investment.


Related Articles

arrow_forward_ios
State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Power restored after blackout envelopes West Side of Manhattan

Power restored after blackout envelopes West Side of Manhattan

Virgin Trains may announce 3 new train station sites in South Florida by year-end

Virgin Trains may announce 3 new train station sites in South Florida by year-end

arrow_forward_ios