Grant Cardone has been investing in Multi-Family Real Estate since the mid 1990s.
Cardone’s combined 40+ transactions have spanned across 8 states including California, Arizona, Texas, North Carolina, Tennessee, Georgia, Alabama and Florida.
In 2012, Cardone made the single largest private acquisition in Florida which consisted of 5 properties, The Harbour Portfolio, just north of Miami. Cardone competed and prevailed against 38 other groups to be awarded this acquisition.
The $59 million dollar purchase of 1016 units, produces a positive cash flow in excess of 8% a year, using Fannie Mae debt while Cardone’s third party management team takes advantage of no new product development and trending rising rents.
By focusing on value add opportunities in tertiary markets overlooked by REITs and provide some barriers or limitations to new product coming to market.
Waypoint Living Management
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To enhance investor’s returns by discovering unique, value add, real estate investment properties that will ensure capital preservation and exceptional returns.
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Average hold time has averaged 31 months.
Current portfolio valued at $350MM.
Average ROI has exceeded 200% (22 consecutive transactions).
Primary investment focus has been value add income producing assets which offer immediate upside and throw off positive cash flow.
The group has been involved in over $425,000,000 of transactions including multi-family, residential, shopping centers and development deals.
Through the use of conservative and realistic acquisition models and by strict discipline and high ethics the group has been able to preserve capital and continue to increase investors returns in all types of economic environments.
Key Business Rules
- We never buy “the appreciation” story.
- Property must have some significant and obvious value add component.
- Willingness to move into or out of a market when economic conditions shift.
- Once we have hit or exceeded our Value Ad Target we get out of the market.
- We never over leverage a good piece of real estate.
- We only buy markets where there exist barriers to entry.
- Location is a key criteria.
- The group has an impeccable reputation for closing deals and greatly leverage that reputation to insure the best terms and the lowest price.
- We never assume on our purchase proforma that we can operate property any better than existing management.
The TrellisSavannah, GA264$29,000,000 Still OwnAudubon ParkDaphne, AL344$34,000,000 Still OwnWellington ClubLake Worth, FL204$31,950,000 Still OwnHarbour BreezeStuart, FL104$5,000,000 Still OwnIntegra ShoresDaytona, FL288$32,200,000 Still Own
|# Units||Acq Price||Sale Price||Years Held|
|Nashville Portfolio||Nashville, TN||826||$63,000,000||Still Own|
|Harbour Portfolio||St. Lucie, FL||1016||$59,000,000||Still Own|
|Somerstone||Charlotte, NC||360||$8,280,000||Still Own|
|Clairmont||San Diego, CA||66||$4,200,000||Still Own|
|Naples Center||San Diego, CA||Center||$23,000,000||Sold||8|
|Pueblos Villas||Tucson, AZ||161||$4,665,000||$6,800,000||3|
|Sunset View||Oceanside, CA||112||$20,000,000||$21,750,000||4.5|
|Vista Montana||Tucson, AZ||112||$2,815,000||$4,375,000||3.17|
|Westgate Park||Tucson, AZ||239||$7,450,000||$10,850,000||3|
|Wilmont Vista||Tucson, AZ||197||$5,350,000||$8,600,000||3.33|
|Barcelona||San Diego, CA||90||$4,675,000||$6,375,000||2.58|
|Camelot||San Diego, CA||74||$3,500,000||$8,600,000||3.25|
|Canyon Pointe||Tucson, AZ||248||$7,350,000||$9,750,000||3.5|
|Catalina Mission||Tucson, AZ||336||$10,050,000||$12,685,000||2.58|
|Desert Tree||Tucson, AZ||72||$1,800,000||$2,400,000||3.5|
|Palms LaMesa||Tucson, AZ||78||$5,300,000||$7,720,000||3.2|
|Arcadia Park||Tucson, AZ||288||$11,250,000||$15,900,000||2.83|
|Cedar Wood||San Diego, CA||52||$1,750,000||$4,350,000||4|
|Palermo||San Diego, CA||38||$2,250,000||$4,400,000||4|
|Neptune||San Diego, CA||21||$14,500,000||$17,600,000||6|
|La Mesa||San Diego, CA||88||$4,200,000||$5,500,000||3.5|
|F Street||San Diego, CA||78||$3,300,000||$5,000,000||3.5|
|Oriole Dr||Los Angeles, CA||1||$7,350,000||$17,000,000||8|
|Sabino Canyon||Tucson, AZ||24||$2,000,000|
We believe that this current real estate market will create incredible opportunities for patient and savvy individuals who are properly prepared to seize the opportunities to acquire the value add opportunities that will be forced upon the market due to the extreme conditions in our current market condition.
The group’s financial condition, high ethics standing combined with its proven track record will prove to be valuable assets in the acquisition of the right properties and in providing good financing.
Interested in Working with Us?
If you think you have what it takes to be a part of a fast-paced, high-performance team of entrepreneurs and talented real estate industry, investment and asset management experts, we want to hear from you.
For more information about career opportunities at Cardone Acquisitions contact us at: firstname.lastname@example.org