Author Archives: Hero Homes Solutions LLC

Hero Homes expands Cleveland footprint with 82 home purchase, targets Cleveland suburbs for future acquisitions

CLEVELAND, Ohio /ScoopCloud/ -- Affiliates of Hero Homes, have expanded its portfolio in the Cleveland, Ohio, metro area with the acquisition of the 27 unit Superior apartments in Cleveland Heights and 55 scattered site single family rental homes throughout the Cleveland Metro area. The 82 units will be added to its existing 36 homes already owned and operated in the Cleveland metro market. In these all-cash transactions, Hero Homes paid $6,219,419, equaling $75,000 per door, representing a 12.2%cap rate on current market rent.

The company believes the assets were purchased for less than 50% of their replacement value, representing a tangible value investment. Consequently, Hero Homes plans on buying an additional 1,000 homes in Ohio over the next 12 months.

The Ohio owner-operator has plans for renovation and repositioning of the assets.

"Cleveland is benefiting from new and expanding employers in the region and has emerged as one of the most affordable cities in the country," said Sayam Ibrahim, chief executive officer. "A lower cost of living, diversified economy, and proximity to destinations like Lake Erie and a robust downtown underpin future growth, and we're excited to expand our footprint in the metro with well-located, and well-maintained assets with plenty of upside potential."

The homes offer one-, two-, and three-bedroom layouts from 700 to over 2000 square feet. Interiors feature 9-foot ceilings, chef-style kitchens with stainless steel appliances, wood-style plank flooring, oversized closets, and plenty of sunlight. According to Hero Homes, upgraded countertops, kitchen backsplashes, and new cabinet faces will be added to each unit along with smart locks and thermostats, USB outlets, and upgraded plumbing and lighting fixtures.

Residents will have access to parks, dog walking areas, top Cleveland restaurants and plenty of shopping and entrainment.

Mr Ibrahim added, "We are excited about this new infill acquisitions in the Cleveland suburbs and look forward to working alongside the city and other property owners in the area to provide quality housing for local residents. We see significant value and potential in Cleveland and are in discussions to buy an additional 500 homes from various sellers in the coming months."

About Hero Homes:

Hero Homes was founded in 2011 by Mr Sayam Ibrahim, along with Sayam's brothers Amiel Ibrahim and Xavier Ibrahim and their partner Jonah Stevens. Since 2011, Hero Homes and its affiliates have purchased and renovated over 600 homes in Ohio with an emphasis on Columbus, Dayton, Lima and Urbana and now Cleveland representing over $65 million of value. Sayam Ibrahim's brother, Amiel, is a resident of Ohio and oversees all renovations of its assets while Xavier is based out of Florida and runs acquisitions for the company. Jonah Stevens heads their in house property management team. In 2022, The Ibrahim family partnered with Yaakov (Jack) Afik the largest developer on the island of Cyprus and founder of Caesar Resorts which has sold over 8,000 apartments in Cyprus and Anthony Pollak of Jupiter Florida and was later joined by U.S and international investors including: Michael Salkind, Joe Lubeck, Schloss Bros.L.P, Peter Friedman and Edwardo Link.

Learn more: https://www.herohomessolutions.com/

Affiliates of Hero Homes, have expanded its portfolio in the Cleveland, Ohio, metro area with the acquisition of the 27 unit Superior apartments in Cleveland Heights and 55 scattered site single family rental homes throughout the Cleveland Metro area. The 82 units will be added to its existing 36 homes already owned and operated in the Cleveland metro market.

Related link: https://www.herohomessolutions.com/

Hero Homes Solutions acquires 30 homes in Urbana, Ohio

URBANA, Ohio /ScoopCloud/ -- Hero Homes Solutions, LLC, has acquired a 30-home subdivision in Urbana, Ohio located in Champaign County, Ohio from Waltco Investments LLC. To date the company has purchased over 500 homes in Ohio with a goal of getting to 1,000 homes within 24 months. This purchase represents the second closing with companies owned by Walter Raines who businesses owned over 80 homes in central Ohio and was liquidating his portfolio upon retirement. In 2021 Hero Homes Solutions closed the purchase of 36 homes in Springfield, OH from Rains Holdings LLC.

After the closing of the first 36 homes, Walter Raines Founder and CEO of Raines Holdings said, "The first transaction with Hero Homes Solutions went so smoothly that when I was ready to sell my second set of properties, I called them directly."

Urbana is centrally located between Columbus and Dayton, Ohio. It is a quiet and stable suburb of Springfield, offering tenants a relaxing lifestyle away from the hustle and bustle of city life but within a manageable commute to the nearby metropolitan areas.

Sayam Ibrahim, Chief Executive Officer of Hero Homes Solutions, LLC states, "We are excited about this new acquisition in Urbana and look forward to working alongside other property owners in the area to provide quality housing for local residents. We see value and potential in Urbana and are already currently negotiating the purchase of another 40 homes nearby."

Sayam went on to explain that, "We plan to invest over $300,000 in capital expenditures to improve the curb appeal and tenant quality of life in this subdivision. So far, the tenants seem excited as the upgrades are being implemented in the community."

About Hero Homes Solutions, LLC:

Hero Homes Solutions, LLC was founded in 2011 by Mr. Sayam Ibrahim along with his brothers Amiel and Xavier Ibrahim. Since 2011, Hero Homes Solutions, LLC has purchased and renovated over 500 homes in Ohio with an emphasis on Columbus, Dayton, Lima and Urbana. Mr. Ibrahim's brother, Amiel, is a full time Ohio resident and oversees all renovations of its assets while Xavier is based out of Florida and runs acquisitions for the company. This acquisition along with its existing homes will be managed by Mrs. Yvette Blanco, Hero Homes' executive property manager.

Herro Homes Solutions plans to buy 500 homes a year in Ohio and will be joined by U.S and international investors including: Mr. Jack Afik, Anthony Pollak, Michael Salkind, Joe Lubeck and Schloss Bros. L.P.

Learn more at: https://www.herohomessolutions.com/

Hero Homes Solutions LLC, has acquired a 30-home subdivision in Urbana, Ohio located in Champaign County, Ohio from Waltco Investments LLC. To date the company has purchased over 500 homes in Ohio with a goal of getting to 1,000 homes within 24 months.

Related link: https://www.herohomessolutions.com/

Hero Homes Solutions acquires 98 homes in Lima, Ohio

The acquisition of the four single family homes marks the company's 98th home purchase in Lima Ohio /ScoopCloud/ -- Hero Homes Solutions LLC, one of the fastest-growing single family owner-operators in Ohio, announces it has acquired four additional single family rental homes in Lima Ohio and is under contract to purchase an additional 22 with options to purchase an additional 60.

This marks the company's 6th portfolio acquisition in Lima in the past 10 months bringing the total number of homes it owns in Lima to 98. The company also owns and operates 352 homes in Urbana, Dayton Toledo and Columbus.

For generations Lima has been one of Ohio's most respected communities and was at a time more populous than Columbus. Years of underinvestment have forced residents away from the city center to the suburbs where all new construction was developed. Like Columbus, Lima is currently experiencing a reinvestment in the city center where many residents are seeking quality affordable housing. Over the past 5 years Lima has seen the development and improvement of schools, and the expansion of new business. The town is currently thriving with a 3.4% unemployment rate, one of its lowest rates in decades.

"We are pleased to expand our presence in Lima," said Sayam Ibrahim, Chief Executive officer of Hero Homes Solutions LLC. "The community is in the ideal location for those looking to live in a small, up-and-coming city, job opportunities and plenty of shopping and dining just minutes away." The plans to spend over $1 million in improvements on all the homes it has purchased in Lima. To date it has already completed the renovation of 35 of the 98 homes. Renovations include landscaping, roofing, kitchen and bath upgrades as well as improving siding, insulation and more energy efficient HVAC systems.

About Hero Homes Solutions LLC:

Hero Homes Solutions, LLC was founded in 2011 by Sayam Ibrahim along with his brothers Amiel and Xavier Ibrahim. Since 2011, Hero Homes Solutions, LLC has purchased and renovated over 400 homes in Ohio with an emphasis on Columbus, Dayton, Lima and Urbana. Mr. Ibrahim's brother, Amiel, is a resident of Ohio and oversees all renovations and property management of its assets while Xavier is based out of Florida and runs acquisitions for the company. Hero Homes Solutions plans to buy 500 homes a year in Ohio and is joined by U.S and international investors including: Mr. Jack Afik, Anthony Pollak, Michael Salkind, Joe Lubeck and Schloss Bros. L.P.

LEARN MORE: https://www.herohomessolutions.com/

Hero Homes Solutions LLC, one of the fastest-growing single family owner-operators in Ohio, announces it has acquired four additional single family rental homes in Lima Ohio and is under contract to purchase an additional 22 with options to purchase an additional 60.

Related link: https://www.herohomessolutions.com/