Cardone Capital acquires Bask in Harbor Park, a 310-unit luxury apartment community in Fort Lauderdale, FL
Miami, FL , April 21, 2021 (GLOBE NEWSWIRE) -- Real estate investment firm, Cardone Capital LLC, announces their acquisition of Bask in Harbor Park, a 310-unit luxury apartment community situated along Fort Lauderdale’s fast growing 17th Street corridor. This acquisition is part of the firm’s strategy to provide investors with the opportunity to participate in institutional grade real estate deals in high-growth markets.
CEO Cardone Capital
The eight-story apartment complex comprises one and two bedroom apartments with an average size of 1,074 square feet, 12’ ceilings in select units, and 28,000 square feet of space dedicated to the property’s resort-like amenities.
“You can’t find a better location in Fort Lauderdale than this. The property is just steps away from 1.1 million square feet of retail including three grocery stores, LA Fitness, Orange Theory, and several restaurants and everyday shops.” says Grant Cardone, CEO of Cardone Capital.
The Property is centrally located between Downtown Fort Lauderdale, Port Everglades, Broward Health Medical, and Fort Lauderdale International Airport. This strategic location provides excellent highway connectivity and easy commute to the largest employment centers in Broward County.
Cardone Capital VP, Ryan Tseko, said “This property caters to the growing demands of renters in the Fort Lauderdale market with its highly walkable location and a state of the art business center, with private offices, to meet the needs of the growing number of remote workers.”
Cardone Capital will rename the property to 10X Living at Fort Lauderdale.
Robert Given, of Cushman and Wakefield PLC (NYSE: CWK), brokered the transaction on behalf of the seller, who developed the property in 2018. Cardone Capital was assisted by New York Community Bank (NYSE: NYCB), who provided the debt with a full-term interest only note.
The property was purchased by Cardone Capital’s most recent equity fund, Cardone Equity Fund XI, LLC, which allows accredited investors to participate in the firm’s institutional grade real estate deals through crowdfunding.
This purchase brings the company’s portfolio to 8,983 units across 28 properties, and total assets under management to $2.1 Billion.
About Grant Cardone
CEO of Cardone Capital, international speaker, entrepreneur, author of The 10X Rule, founder of 10X Movement, creator of 21 best-selling business programs. Cardone was named the #1 marketer to watch by Forbes Magazine, and is starring on Discovery Channel’s new hit business show, Undercover Billionaire.
About Cardone Capital
Cardone Capital, located in Aventura, FL, 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 $532M through crowdfunding.
Cardone Capital’s portfolio currently consists of properties in Florida, Texas, Alabama, Georgia, and Maryland.
To view upcoming private offerings from Cardone Capital visit https://cardonecapital.com
Executive Vice President