Grant Cardone has been investing in Multi-Family Real Estate since the mid 1990s.
Grant Cardone, CEO of Cardone Acquisitions has been investing in Multi-Family Real Estate since the mid-1990s, successfully navigating through good and bad markets. With over 45 transactions in 8 states including California, Arizona, Texas, North Carolina, Tennessee, Georgia, Alabama and Florida, he has a proven track record with over $500,000,000 in transactions.
Cardone has demonstrated twenty-five years of disciplined philosophy focused on income producing affordable housing in tertiary markets. These markets are often overlooked by large funds due to some barriers of entry. There are also value-add opportunities providing the management team the possibility to increase income and monthly cash-on-cash returns while improving the long-term value of property.
All property selection goes through a systematic four stage due diligence process led by Mr. Cardone, a team of internal staff and underwriters Mr. Cardone has been working with for years.
- A constant flow of deals is sent to Mr.Cardone for review.
- The property is then selected by Mr. Cardone from a subjective and objective evaluation.
- Property is then underwritten by Mr. Cardone and internal team to very conservative cash on cash expectations based on worse case scenarios.
- The deal is then sent to an external underwriter who does an independent UW using very conservative standards and worse case scenarios.
The deal is then either pursued or discarded. At which point a deal is selected. Mr. Cardone then moves very fast to close the transaction. As a Preferred Lender with Fannie Mae and Freddie Mac our team has access to some of the best financing terms available. With Mr. Cardone’s record as a “Closer,” he is being sent deals daily by brokers and REIT’s. Cardone Acquisitions currently controls almost 4000 units in Florida, Alabama, N. Carolina, and Georgia and looking to expand to 10,000 units over the next twenty-four months.
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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.
In the News
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 $484,000,000 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.
|# Units||Acq Price||Sale Price||Years Held|
|Reserve at St. Lucie||St. Lucie, FL||188||$19,500,000||Still Own|
|Reserve at Ormond Beach||Ormond Beach, FL||212||$36,500,000||Still Own|
|Integra Shores||Daytona, FL||288||$32,200,000||Still Own|
|Harbour Breeze||Stuart, FL||104||$5,000,000||Still Own|
|Wellington Club||Lake Worth, FL||204||$31,950,000||Still Own|
|Audubon Park||Daphne, AL||344||$34,000,000||Still Own|
|The Trellis||Savannah, GA||264||$29,000,000||Still Own|
|Nashville Portfolio||Nashville, TN||826||$63,000,000||Still Own|
|Harbour Portfolio||St. Lucie, FL||1016||$59,000,000||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: email@example.com