Pacaso Launches Innovative Luxury Second Home Co-ownership Platform in Miami and Fort Lauderdale - Sep 16, 2021
Pacaso Launches Innovative Luxury Second Home Co-ownership Platform in Miami and Fort Lauderdale
Company Continues Whirlwind Expansion, Doubles Down on Local Hiring; Aspiring Owners Can Now Browse Pacaso Listings and Co-own Luxury Homes in South Florida

MIAMI, Sept. 16, 2021 /PRNewswire/ -- Pacaso, the leading real estate platform that helps people buy and co-own a luxury second home, today announced its expansion to Miami and Fort Lauderdale. With this launch, Pacaso's modern, tech-focused approach to co-ownership is now available to aspiring second home buyers in South Florida.

"Pacaso buyer demand for homes in Miami and Fort Lauderdale has been incredibly strong, and it's clear that our model, which helps to create new inventory in a tight market, is an ideal fit for South Florida," said Pacaso CEO and Co-founder Austin Allison. "South Florida boasts some of the nation's most epic waterfront homes with top amenities. It's no surprise that this is one of the hottest second home destinations in the country. We've been doubling down on local hiring, and I couldn't be more excited about the South Florida team we've built. We're also thrilled to be part of this community and to work with local businesses and service providers."

"Pacaso provides a truly innovative approach to second home ownership," said Miami Mayor Francis Suarez. "Pacaso owners invest in the community for the long-term. And I appreciate how Pacaso helps make more efficient use of homes. As Miami continues to attract tech talent and investment from around the world, along with demand for new housing options, I'm pleased to see innovative companies like Pacaso look to Miami as an early expansion market." 

Josh Dotoli, a Pacaso partner agent in South Florida, is a founding Compass broker in Fort Lauderdale and leads one of the top-producing sales teams in the Southeast Region. A luxury real estate expert and advisor, Dotoli has been featured in the Wall Street Journal, Forbes, Bloomberg as well as local news outlets.

"Pacaso is going to change the game in South Florida," said Dotoli. "We work with a lot of buyers who want to be able to buy property in the area, but whether they are priced out or dealing with limited inventory, many have traditionally not been able to enter into this very competitive market. With Pacaso, they can do so. I'm so pleased to be able to offer this new model of co-ownership to buyers in the region."

Pacaso partners with all real estate agents and brokerages. Real estate agents representing buyers who purchase a share of a Pacaso home receive a 3% commission in addition to 500 RSUs of Pacaso stock as a referral equity bonus. Agents in Miami and Fort Lauderdale who are interested in working with Pacaso can learn more on the company's website.

Pacaso now has listings in South Florida, including this striking modern waterfront home in the tree-lined Fairhaven neighborhood of Miami, and this sleek Fort Lauderdale listing with its own private dock and lush courtyard just minutes away from Las Olas shopping and dining. To learn more about homes available in South Florida, please visit the Pacaso website.

Pacaso Expands Sales Team
To support its revenue and market expansion, Pacaso has hired a seasoned team of industry leaders including Sara Anissipour as Vice President of Sales. In her current role, Anissipour is responsible for driving revenue growth and overseeing the Pacaso sales organization. As a distinguished business leader with more than 15 years of experience, Anissipour has a proven track record of growing and leading highly successful sales organizations. Previously, she built and led the Enterprise Sales and Partnerships business units at Zillow Group and oversaw the US New Business Ad Sales organization at Google.

"I'd previously worked with many of my current team members prior to joining Pacaso and jumped at the opportunity to collaborate with them again," said Anissipour. "The opportunity to build a foundation for our sales organization that will help the company continue to scale both across the U.S. and internationally was incredibly exciting to me. Building and growing this team in the early stages of Pacaso's expansion has already been nothing short of successful, and we're excited to expand our sales organization quickly."

Earlier this week Pacaso announced $125M in Series C funding led by SoftBank, bringing the company's total valuation to $1.5 billion and total equity funding to more than $215 million. Additional funding was provided by Fifth Wall and Gaingels. Pacaso's permanently distributed workforce of more than 120 employees spanning 20 states has increased 364% since January 2021. Additionally, the company announced that it will commence European expansion in Spain by the end of the year. Pacaso is actively recruiting a dedicated local team to support global efforts, and plans to expand swiftly into other European markets.

About Pacaso
Pacaso® (pronounced like "Picasso") modernizes the decades-old practice of co-ownership by creating a marketplace that makes buying, owning, and selling a luxury second home easy. From curating the best listings in top second home markets to offering integrated financing and sales from as little as ⅛ to as much as ½ ownership; upscale interior design; and professional property management, Pacaso provides owners with all the benefits of owning a second home with less hassle. After purchase, Pacaso manages the home on an ongoing basis and supports a frictionless resale process in partnership with a licensed real estate professional.

Pacaso was co-founded by former Zillow executives Austin Allison and Spencer Rascoff.

SOURCE Pacaso

For further information: Jenny Bourne, jenny@bamtheagency.com