Cardone Capital acquires 398-unit multifamily property in Boca Raton
Miami, Dec. 10, 2020 (GLOBE NEWSWIRE) — Real estate investment firm, Cardone Capital LLC, announces their acquisition of Altis Boca Raton, a 398-unit Class A multifamily property, located in the very exclusive Boca Raton market. This acquisition is part of the firm’s strategy to provide investors with the opportunity to participate in institutional grade real estate deals in high-growth markets.
The property comprises a 6-story midrise design with a combined average unit size of 1,005 square feet. Grant Cardone describes the property saying, “the location is as good as it gets, with tenants able to walk under covered walkway from the property to Fresh Market, Chipotle, Raw Juice, Fresh Kitchen, Habit Burger, Cycle Bar, and Bonitas.”
The property is a neighbor to Park at Broken Sound with over 8 million square feet of office and industrial space, making it one of South Florida’s most dynamic live and work environments.
Robert Given, of Cushman and Wakefield PLC (NYSE: CWK), brokered the transaction on behalf of the seller, the Altman Companies, who developed the property in 2018. Cardone Capital was assisted by New York Community Bank (NYSE: NYCB) who provided $105M in debt with a full-term interest only note at a fixed rate of 2.89%.
“We're excited to be able to add this property to our investment portfolio bringing Cardone Capital to 8,673 units across 27 properties”, says Cardone Capital VP, Ryan Tseko. “The property will be renamed, 10X Living at Boca Raton.”
Cardone points out, “Boca boasts the second highest average home price in Palm Beach County at $526,822(1) and a net worth of $1.3 million(2), only behind that of Palm Beach. Also, worth noting are other highly recognizable Institutional owners in Boca Raton, that include Starwood, Greystar, Avalon Bay, Camden, Prudential, TIAA, Goldman Sachs and MSD Partners.”
The property was purchased for Cardone Capital’s most recent equity fund, Cardone Equity Fund X, LLC which allows accredited investors to participate in the firm’s institutional grade real estate deals through crowdfunding.
About Grant Cardone
CEO of Cardone Capital, international speaker, entrepreneur, author of The 10X Rule, founder of 10X Movement, creator of 21 best-selling business programs. Cardone was named the #1 marketer to watch by Forbes Magazine, and is starring on Discovery Channels new hit business show, Undercover Billionaire that premiers Jan 6, 2021.
About Cardone Capital
Cardone Capital is located in Aventura, acquires and manages income producing class A multifamily properties, which provide investment vehicles for accredited investors through Regulation D offerings and for non-accredited investors through Regulation A offerings. To date, the company has raised almost $500M through crowdfunding.
Cardone Capital’s portfolio currently consists of properties in Florida, Texas, Alabama, Georgia, and Maryland.
To view upcoming private offerings from Cardone Capital visit https://cardonecapital.com
Contact:
Ryan Tseko
Executive Vice President
+1 833-822-7435
Ryan@cardonecapital.com
https://cardonecapital.com
(1) BOCA RATON FL APPRECIATION RATE TRENDS AND HOUSING MARKET DATA: https://www.neighborhoodscout.com/fl/boca-raton/real-estate
(2) Boca Raton Net Worth: https://www.imfingo.com/net-worth/place/2366220
This news has been published for the above source. Cardone Capital LLC [ID=15691]
Disclaimer: The pr is provided "as is", without warranty of any kind, express or implied: The content publisher provides the information without warranty of any kind. We also do not accept any responsibility or liability for the legal facts, content accuracy, photos, videos. if you have any complaints or copyright issues related to this article, kindly contact the provider above.
Attachment
Cardone Capital acquires 398-unit multifamily property in Boca Raton
Related Quotes
Time's almost up on ultra-low rates, so don't be caught off guard.
Nvidia Corp. faces a very different environment versus two years ago when it last launched a new chip architecture, one where demand is falling and its stock price has been more than halved over the year.
You can't guess the bottom. But a bargain is a bargain.
The billionaire praised “zoomers” for taking into account how career decisions will affect their mental health.
The great Warren Buffet famously said: “only when the tide goes out do you discover who's been swimming naked.” If the markets have shown anything recently, it's that holders of growth stock powerh…
Figma's stats are extraordinary. There's a good chance — and we'll know in a few years — that the acquisition was worth it.
NIO Inc. stock is trending on the Yahoo Finance Platform. Here is a visualization of $NIO performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.Check out the ticker page here.
(Bloomberg) — From a start guarding trains full of metal from thieves on freezing winter nights, He Jinbi built a copper trading house so powerful that it handles one of every four tons imported into China.Most Read from BloombergBezos Loses Spot as World’s Second-Richest Person to AdaniUkraine Latest: Biden Warns Putin; Nuclear Plant Gets Grid PowerPutin Threatens New Military Strikes on Ukraine InfrastructureThere’s an Unusual Thing Happening in the Housing MarketTurkey Seeks to Be First NATO
In this article, we discuss 10 Blue Chip Stocks to Buy Now According to billionaire D. E. Shaw. You can skip our detailed analysis of D E Shaw’s strategy and the current market outlook and go directly to 5 Blue Chip Stocks to Buy Now According to Billionaire D. E. Shaw. David E. Shaw is […]
Things have been even worse for the tech-centric Nasdaq Composite (NASDAQINDEX: ^IXIC), which has lost as much as 34% of its value on a peak-to-trough basis since hitting its closing high in November. The magnitude of the Nasdaq's decline has kept the widely followed index firmly entrenched in a bear market. The first buying opportunity you may never see again is the chance to load up on shares of semiconductor giant Intel (NASDAQ: INTC) below $30.
Of the 225 million Americans who are fully vaccinated, a mere 6,278 received Novavax. It's more popular in other countries like Japan and Australia, where it's used as a booster.
Chandler Guo, a big player in Ethereum mining, told CoinDesk TV that his proof-of-work fork’s debut has earned just a 5 out of 10 rating.
Intel Corporation stock is trending on the Yahoo Finance Platform. Here is a visualization of $INTC performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.Check out the ticker page here.
E-commerce company Shopify (NYSE: SHOP) was a big winner during COVID-19, but the stock has fallen from grace, down a whopping 80% from its peak. Investors may uncover more questions than answers as they dig into Shopify. Here is what's going on and why investors shouldn't assume that Shopify is cheap just because the stock's fallen so far.
Corporate landlords still like the space. Take advantage.
It's no secret that investors are worried about runaway inflation. Cathie Wood and Elon Musk see deflation as the bigger threat.
Income investors are always on the hunt for good stocks that for one reason or another have recently been out of favor, creating a scenario for a higher dividend yield along with possible future appreciation as the stock bounces back. Buying a stock on a decline sometimes involves a bit of courage, but the ability to lock in long-term higher yields makes the decision easier for most investors. At the moment, Medical Properties Trust Inc. (NYSE: MPW), a Birmingham, Alabama-based real estate inves
Billions of federal dollars are flowing into transforming America's travel network, but who's getting it might be a major issue.
If just two themes have defined the stock market in 2022, those themes would be stock splits and the bear market. Both have disproportionately affected the technology sector, with some of the largest tech companies in the U.S. opting for stock splits to reduce their high share prices, and the Nasdaq-100 tech index bearing the brunt of the broader market losses. Palo Alto Networks (NASDAQ: PANW), Shopify (NYSE: SHOP), and Tesla (NASDAQ: TSLA) have all conducted stock splits this year, and each stock has touched its 52-week low within the last four months.
These game-changing stocks are ripe for the picking following a peak decline of 34% in the Nasdaq Composite.
About Author
