Six Four Asset Management Enters Miami Market With Hialeah Acquisition

HIALEAH, FL - Boca Raton based real estate firm Six Four Asset Management, along with partner Frontline Investment Partners, have acquired 24 units located at 55 w 7th St in Hialeah, FL. The property, which is being rebranded as Las Brisas Apartments, is located in the Miami submarket.

“The property is a perfect fit into our portfolio of value-add, multifamily holdings. We immediately saw the ability to add value to the property for our investors. ,” said Paul Hassebroek, Six Four’s Principal.

The property, which will be rebranded as Las Brisas Apartments, is comprised of 24 apartments (12 1-bedroom and 12 2-bedroom units). Hassebroek says he is thrilled to add an asset in the Miami market. "This will not be our last acquisition in the metro. We view this acquisition as the first in a portfolio of high-quality housing units in the city. "

The $5,100,000 acquisition was financed with capital raised from high-net-worth investors and a seller note. Average rents in place were $1,175/unit, mostly from Section 8 housing. Existing tenants are being increased to an average of $1,400 from Section 8 and leases that are expiring are being renewed at market rent of $1,650, exceeding our Year 1 Pro Forma projections.

Six Four owns and operates multi-family and hospitality properties in Florida, Georgia, and the Midwest. The firm was established in 2019 by Hassebroek, whose previous role was managing private investments for a midwest-based family office with a Florida presence. Six Four's investment partners include institutions, private investors, and its principals.

For further information on the acquisition or investment opportunities call Six Four Asset Management at 561-448-9648 or visit sixfourassetmanagement.com.