Grant Cardone Strikes Again: A Bold All-Cash Acquisition in Fort Lauderdale

In a remarkable display of confidence and strategic acumen, real estate fund operator Grant Cardone has once again made headlines by closing an all-cash deal on the impressive 10X Flagler Village, a Class A property boasting 382 units in the heart of downtown Fort Lauderdale, Florida. Through his investment firm, Cardone Capital, Cardone has successfully executed over a quarter of a billion dollars in new acquisitions in just the past six months. This bold move comes at a time when many institutional investors are adopting a cautious stance, highlighting Cardone’s unique position in the market.

A Testament to Investor Confidence

Despite the current economic climate, which has seen many syndicators struggling and keys being returned to banks, Cardone Capital has thrived. The firm has raised over $300 million for its latest funds and recently launched Cardone Equity Fund 24. This demonstrates not only the strength of its business model but also the unwavering support from its retail investor base. Robert Given, a broker with CBRE, remarked on Cardone’s approach, stating, “Cardone is one of the most active buyers in the country today. His unique model benefits regular people who could never access these kinds of deals.”

The 10X Flagler Village Acquisition

The newly acquired property, previously owned by an institutional investor, features an impressive array of 382 units with average rents reaching $2,700. Strategically located along the prestigious A1A, the property boasts excellent retail frontage, making it a prime investment opportunity. Cardone plans to rebrand the property as “10X Flagler Village,” aligning it with his signature brand and investment philosophy, which emphasizes growth and value creation.

The Power of Cash Transactions

When asked about the rationale behind the all-cash purchase, Cardone explained, “We showed our investors this acquisition, and within a week we had commitments for the entire amount. We could have easily gotten a loan, but why pay lenders 7.5% when we can share that with our investors and finance in the future when rates come back down?” This strategic decision not only positions Cardone Capital favorably in the current high-interest rate environment but also underscores the exclusivity of the opportunities it can offer to its investors.

By leveraging the strength of its retail investor base, Cardone Capital has been able to secure lucrative deals that would typically be out of reach for individual investors. Over the past year, Cardone has distributed more than $65 million to investors, translating to an impressive annual cash yield exceeding 6%.

A Vision for Future Growth

Cardone’s bullish outlook on the real estate market is evident in his ambitious plans for the near future. He stated, “We are set to close three more similar-sized deals before the end of June totaling half a billion dollars.” This aggressive growth strategy reflects Cardone Capital’s commitment to delivering value and potential returns to its investors, even amidst a challenging economic landscape.

Since its inception in 2016, Cardone Capital has raised over $1.3 billion from retail investors across 24 funds. The firm has built a robust real estate portfolio that includes more than 13,000 apartment units across 40 multifamily properties, as well as over 500,000 square feet of commercial office space. Notably, the 10X Centre in Aventura, Florida, serves as the headquarters for Cardone Capital.

Disrupting the Real Estate Landscape

As Cardone Capital continues to make waves in the real estate industry, it is clear that Grant Cardone’s visionary leadership and innovative investment strategies are yielding significant results. With a proven track record of success and a growing portfolio of properties, Cardone Capital is well-positioned to capitalize on the opportunities presented by the current market while providing everyday investors with access to institutional-grade real estate deals.

In conclusion, Grant Cardone’s recent acquisition of 10X Flagler Village exemplifies his commitment to leveraging unique investment strategies that benefit both his firm and its investors. As the real estate landscape evolves, Cardone Capital’s approach serves as a beacon of opportunity for those looking to invest in high-quality assets.

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