Real estate investment firm, Cardone Capital, launches Cardone Fund X. This fund is aimed at acquiring income-producing multifamily assets priced below market value.Email Print Friendly Share |
Source: Cardone Capital
Grant CardoneReal estate investment firm, Cardone Capital, launches Cardone Fund X. This fund is aimed at acquiring income-producing multifamily assets priced below market value.
Grant CardoneReal estate investment firm, Cardone Capital LLC, announces the launch of Cardone Fund X.
Miami, FL, Oct. 01, 2020 (GLOBE NEWSWIRE) — September 22, 2020 — Real estate investment firm, Cardone Capital LLC, announces the launch of Cardone Fund X. This is the latest of their new opportunity funds. These funds are aimed at purchasing income-producing multifamily assets in high-growth markets that are priced under market value.
Cardone Fund X is a private offering using rule 506(c) of Regulation D. This type of offering allows any individual to participate as long as they are an accredited investor.
Grant Cardone, Founder and CEO of Cardone Capital, said “This fund, unlike some of my previous funds, will be focused on more opportunistic assets created from the Covid crisis and shutdown.”
The fund has a target raise of $50M - $60M. Cardone says they’re targeting properties in high growth markets throughout the US. “I’m targeting areas that have a high net population gain. These are the areas that will continue to have the highest demand for apartments and will give us the most appreciation.”
Early investors are offered an 80/20 split on cash and appreciation if their funds are in before the property is identified.
Cardone adds “Our immediate impetus is on apartment quality real estate to add to our current portfolio, and we are in negotiations on properties at this time.”
The minimum Investment for Fund X is $250,000 with a max of $10M by any one investor or LLC.
Cardone Capital’s latest acquisition was a 553-unit multifamily property in Fort Lauderdale. This property was in such high demand the fund was oversubscribed by millions of dollars in less than 62 days.
Cardone Capital currently has $1.9 billion in assets under management, which is expected to increase to over $2 billion once Fund X closes. Cardone said “This will be a huge milestone for us, and I’m so grateful to our investors who helped get us here.”
The firm’s assets under management currently include 26 properties with a total of 8,275 units. These properties are located in Florida, Georgia, Alabama, Texas and Maryland.
About Grant Cardone
CEO of Cardone Capital, international speaker, entrepreneur, author of The 10X Rule and creator of 21 best-selling business programs, Grant Cardone owns and operates seven privately held companies and a $1.9 billion portfolio of multifamily properties. Named the #1 marketer to watch by Forbes Magazine, Cardone is also the founder of the The 10X Movement and The 10X Growth Conference, the world’s largest business and entrepreneur conference.
About Cardone Capital
Cardone Capital acquires and manages income producing class A multifamily properties, which provide investment vehicles for accredited investors through Regulation D offerings and for non-accredited investors through Regulation A offerings. To date, the company has raised over $425M from retail investors through crowdfunding.
For more information on Cardone Fund X visit https://cardonecapital.com
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