
Grant Cardone’s real estate investment firm Cardone Capital has acquired four multifamily properties in the Fort Lauderdale, Fla., metropolitan area totaling nearly 1,700 units for approximately $740 million. The properties will be rebranded 10X Living. They include two newly built assets in downtown Fort Lauderdale and two 1990s-era properties with value-add upside in two desirable West Broward County communities.
Cardone said in a prepared statement the combined acquisitions, essentially done simultaneously, represent the largest deal in his long career as a real estate investor. The four acquisitions round out a record year for the Cardone team, which acquired more than $1.2 billion in real estate, including almost 2,900 apartments. Cardone Capital’s multifamily portfolio now encompasses 35 properties with 11,552 units.
Ryan Tesko, Cardone Capital executive vice president, said in prepared remarks the firm competed against some of the largest real estate investors in the world for the four properties. In addition to being located in one of the fastest-growing regions in the United States, Tesko said they complement the three properties the firm already owns in the market.