Brian Kim and John Prete Acquire Multifamily Property in Homestead, FL for $46.4M

Brian Kim and John Prete, two prominent real estate investors, have acquired a multifamily property in Homestead, FL for $46.4M. The property, located at 1400 E Mowry Dr, spans over 20,821 square feet and was sold by Jorge Lopez.

The property is a multifamily building, which means it contains multiple residential units. The exact number of units is not provided, but based on the price per square foot of $2,228, it is likely that the property contains a significant number of units. The property is located in Homestead, FL, which is a growing market with a strong demand for rental properties.

Brian Kim and John Prete are experienced real estate investors with a track record of successful acquisitions. They are known for their ability to identify undervalued properties and turn them into profitable investments. The acquisition of this multifamily property is in line with their investment strategy, which focuses on acquiring properties with strong potential for appreciation.

Jorge Lopez, the seller of the property, is a well-known real estate investor in the Homestead area. He has a reputation for acquiring and developing properties with strong potential for growth. The sale of this property is likely part of his ongoing strategy to optimize his real estate portfolio.

The brokers involved in the transaction are not provided, but it is likely that they played a significant role in facilitating the deal. The acquisition of a property of this size and value requires a high level of expertise and experience, which is why it is common for buyers and sellers to work with experienced brokers.

Overall, the acquisition of this multifamily property in Homestead, FL by Brian Kim and John Prete is a significant transaction that highlights the strong demand for rental properties in the area. The property’s location, size, and potential for appreciation make it a valuable addition to their real estate portfolio.