Cardone Capital Acquires 331 Class A Multifamily Units In South Florida With Another All-Cash Deal
Strategic acquisition expands Cardone Capital’s market-leading portfolio to 14,000 units.
AVENTURA, FL, Sept. 25, 2024 (GLOBE NEWSWIRE) — Cardone Capital, led by industry titan Grant Cardone, has just closed an all-cash deal on The Edge at Flagler Village.
Grant Cardone – The Edge at Flagler Village
The Class A, luxury 331-unit multifamily property in the heart of Downtown Fort Lauderdale was acquired through the firm’s latest investment vehicle, Cardone Equity Fund 25.
The firm has assembled a portfolio of 2,000+ Class A multifamily units in the Downtown Fort Lauderdale submarket, bringing the company’s total unit count to 14,000 apartments throughout the Sunbelt.
Grant Cardone, CEO of Cardone Capital, commented on the acquisition: “This acquisition presents a tremendous opportunity for our investors. We’ve secured a premium asset with immediate cash flow at a compelling price. With the Fed’s recent rate cut, we expect to enjoy significant capital appreciation on this investment.”
The acquisition highlights Cardone Capital’s ability to move quickly and decisively on opportunistic deals, even as high interest rates pushed many institutional investors to the sidelines. Cardone Capital has been one of the most active multifamily buyers in 2024, closing on $500 million in all-cash acquisitions year-to-date.
“We’ve been thriving through this market cycle,” Ryan Tseko, Executive Vice President at Cardone Capital, noted. “Our all-cash strategy allows our investors to capitalize on once-in-a-generation buying opportunities. The Edge acquisition is a prime example of this, and we’re excited to share it with our investors.”
About Cardone Capital
Cardone Capital is a real estate investment firm that acquires Class A properties in high-growth markets with the goal of delivering strong current cash flow and potential long-term wealth creation to its investors. The firm provides accredited and non-accredited investors access to institutional-grade real estate investments that are normally reserved for large, institutional investors.
Since inception in 2016, Cardone Capital has invested more than $1.4 billion of equity and aggregated a $5 billion real estate portfolio comprising 14,000 multifamily units and two office properties containing more than 500,000 square feet.
Cardone Capital has maintained consistent performance, while other funds and syndicators have paused distributions and issued capital calls. The firm has distributed over $350 million to investors since inception in 2016 with $75 million distributed to investors during the last 12 months. Cardone Capital’s track record of delivering consistent performance and cash flow distributions to investors, month after month and year after year – without issuing capital calls – is celebrated by the firm’s expansive and loyal investor base.
For more information about Cardone Capital and its newest opportunity, visit Cardone Capital’s website.
Media Contact
Ryan Tseko
305-407-0276
