Grant Cardone’s buying binge extends to Naples with $90M multifamily deal
Cardone Capital dropped $89.8 million on a rental community in Naples, according to a deed recorded Wednesday. The Aventura-based firm, headed by crowdfunding multifamily syndicator and online influencer Grant Cardone, acquired Orchid Run, a 282-unit complex at 10991 Lost Lake Drive, from an affiliate of The Inland Real Estate Group of Companies, according to a news release. The deal penciled out to $318,000 per unit. Matt Mitchell and Chris Burtner of Berkadia North & Central Florida arranged the sale. The complex, completed in 2015, includes 108 one-bedroom units, 126 two-bedroom units and 48 three-bedroom units with residences averaging 1,040 square […]This article originally appeared on The Real Deal. Click here to read the full story.
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