Mark A. Gensheimer And Grant Cardone Acquire 101 East Camino Real Multifamily In Boca Raton For $235M

The property asset involved in the transaction is a multifamily asset located at 101 East Camino Real in Boca Raton. The total price for the property is $235,000,000, which encompasses 366 units, resulting in a price per unit of $642,077.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $235,000,000
• Units: 366
• Price Per Unit: $642,077

The deal includes a joint venture where Grant Cardone’s organization, Cardone Capital, and Penn-Florida Companies have collaborated. Grant Cardone is set to finance $220 million of the purchase and plans to sell shares in the venture to retail investors, with the objective of generating up to $400 million in condo sales from the property.