Cardone Closes on 2 S. Florida Rental Assets, One on Way

Real estate investor and promoter Grant Cardone has purchased two Miami-area multifamily properties: the Manor at Flagler Village in Fort Lauderdale and the Laurels at Jacaranda in Plantation. The S. Florida Business Journal reports that Nuveen was the seller.

The Manor at Flagler Village has 382 apartments and about 25,000 square feet of retail space. It will be rebranded 10X at Flagler Village.The Laurel at Jacaranda at 9733 N.W. Seventh Circle has 468 apartments spanning about 31 acres. It will be rebranded 10X at Jacaranda. Cardone Capital also has the Edge at Flagler Village, a 382-unit complex at 475 N. Federal Highway, under contract for more than $100 million. He expects to close on September 16. It’s also owned by Nuveen. All three involve cash sales.

Cardone is believed to own about 15,000 apartment units, more than 10,000 of which are in Florida, plus others in Georgia, Alabama and Texas.

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