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MIAMI (PRWEB) June 30, 2020
Cardone Capital, a Miami-based private equity real estate firm founded and managed by Grant Cardone, announces the close of Cardone Equity Funds VI and VIII, which were collectively oversubscribed by $4.2 million. The Funds utilized $112 million of equity and capital raised to purchase four multifamily properties for $350 million, bringing the firms total assets under management to $1.7 billion.
Cardone Capital invests in income producing multifamily apartment buildings across the southeast United States. Fund VI and VIII assets generate positive cash flow with an expected annual return of 6-8%, and total return of 15%, making monthly distributions to investors. The closing of Funds VI and VIII brings Cardone Capital’s portfolio to 7,722 units. The company is currently active in six states, including Florida, Georgia, Tennessee, Texas, Alabama, and Maryland.
The properties purchased in Funds VI and VIII include:
- 10X Living at Panama City Beach – 288 units
Panama City Beach, FL
- 10X Living at Columbia Towncenter – 531 units
- Retreat at Panama City Beach – 360 units
Panama City Beach, FL
- Addison Place – 294 units
On June 25, 2020, the company celebrated the closing of Funds VI and VIII, a $6.3 million distribution to investors, and the recent opening of Fund IX. Cardone Capital Founder and CEO, Grant Cardone, spoke out to his team and investors, “I will always take advantage of a deal, but I will never take advantage of people.” This statement defines the launch of Cardone Capital’s Opportunity Fund, which focuses on distressed properties, and guarantees an 80/20 split to investors who invest in accordance with the fund’s standards.
The funds described herein are open to “accredited investors” only, through an offering made in accordance with Regulation D, Rule 506(c) of the Securities Act of 1933, as amended. In purchasing securities through a 506(c) offering, we are obligated to verify any participating investor’s status as an “accredited investor” in accordance with Rule 501 of Regulation D. Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. We do not make any representations as to the accuracy or completeness of the information contained on this website and undertake no obligation to update the information. Past performance is not an indicator of any future results. All investments contain risk and may lose value. This does not constitute an offer to sell or a solicitation of interest to purchase any securities or investment advisory services in any country or jurisdiction in which such offer or solicitation is not permitted by law.