Cardone Capital, a real estate investment firm led by Grant Cardone, has completed an all-cash acquisition of The Edge at Flagler Village, a 331-unit Class A multifamily property located in downtown Fort Lauderdale, Florida. The purchase was made through Cardone Capital’s latest investment fund, Cardone Equity Fund 25.
The addition of this property brings Cardone Capital’s portfolio in downtown Fort Lauderdale to over 2,000 Class A multifamily units, contributing to a total of 14,000 apartments across the Sunbelt region.
Grant Cardone, CEO of Cardone Capital, commented on the acquisition, noting that it offers a valuable opportunity for investors. He highlighted the immediate cash flow from the property and emphasized the potential for capital appreciation due to favorable market conditions, including the recent interest rate cut by the Federal Reserve.
This transaction underscores Cardone Capital’s agility in navigating the real estate market during a period when many institutional investors have become cautious due to rising interest rates. In 2024, the firm has been an active player in the multifamily sector, closing $500 million in all-cash acquisitions.
Ryan Tseko, Executive Vice President of Cardone Capital, pointed to the company’s all-cash strategy as a key factor in identifying and seizing favorable opportunities. “The acquisition of The Edge at Flagler Village exemplifies our approach. We believe this will provide long-term benefits to our investors.”
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By Proptechbuzz
By Ravi Kumar
