MIAMI (PRWEB) May 10, 2018
The Cardone Equity Fund purchased two investment properties for more than $100,000,000. The 507-unit Woodway Square property located near the Galleria Mall in Houston, TX property was purchased off-market from Fairfield Residential, one of the leading apartment owners in the world. The other property, Murano, was an upscale apartment complex totaling 240 units, centrally located in Orlando, FL.
Cardone assumed the existing Fannie Mae loan with the Fairfield Group. On the Orlando property, Cardone used Teachers Insurance & Annuity Association of America, a $109 billion dollar holding company, for the debt. Both deals were brokered by Robert Given of Cushman Wakefield, a global leader in the commercial real estate space.
Grant Cardone, CEO of Cardone Capital, said, “The real estate we are buying has traditionally been available only to the large institutions (think Blackstone, Vanguard, Fidelity, Fairfield) and out of reach to everyday investors. I am making extraordinary investments available to the everyday person.”
The Woodway Square property is located next to million-dollar homes and backs up to Whole Foods (Amazon) and across from the largest Baptist Church in Texas, The Second Baptist Church. Ryan Tseko, portfolio manager, notes that “the 15.671-acre site includes the largest private recreational park and greenspace of any multi-family community in Houston, one of America’s greatest job growth cities and home of the 2017 World Series Champions Houston Astros.”
Murano was completed in 2016 and comprises 240 luxury apartment cash flow positive homes in an elegant and modern four-story structure across from the Ritz Hotel in Orlando.
Grant Cardone and Cardone Capital are planning to launch their 4th fund, Cardone Equity Fund IV, to raise $100 million privately from accredited investors, and are planning on registering with the SEC to offer interests in a Regulation A+ fund to allow non-accredited investors access to his deals.
Visit cardonecapital.com for more information.
About Cardone Capital
Cardone Capital is a private-equity real estate firm that specializes in incoming producing product, mostly in the multifamily housing sector. With 25+ years of experience in the real estate industry, the firm acquires, improves, and operates multifamily real estate in growth markets in five states; Tennessee, Georgia, Alabama, Texas and Florida. Cardone Capital’s mission is to identify, acquire and manage income-producing properties in great locations that provide opportunities for investors to preserve capital investments, collect consistent cash distributions while providing future capital appreciation of the assets. For more information visit cardonecapital.com.
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