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Cardone Capital LLC, Grant’s Cardone’s real estate investment arm, has acquired four multifamily communities located in the Fort Lauderdale metropolitan area for a combined purchase price of approximately $740 million including fees and expenses. The four properties have approximately 1,700 apartment units and will be rebranded 10X Living.
The seller or sellers were not provided.
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She’s a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
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New York metro area will deliver 28,000 while Dallas-Fort Worth will develop 23,500 new units.
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The acquisition includes office and industrial property management, agency leasing, and project management services.
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The major mixed-use development will reportedly blend virtual and physical realities.
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