Grant Cardone Acquires Multifamily Portfolio In Fort Lauderdale, Sunrise & Weston For $744M
106 Southeast 6th Avenue, Fort Lauderdale, Florida 33301, United States
$744,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 10, 2021
AI
The multifamily property located at 106 South Federal Highway, 4 W Las Olas Blvd, 1640 Northwest 128th Drive, and 1343 St Tropez Circle in Fort Lauderdale, Sunrise, and Weston has been sold. The property consists of 1,688 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $744,000,000
- Date: 12/10/2021
- Buyer: Grant Cardone - Cardone Capital
- Market: Fort Lauderdale, Sunrise & Weston
The buyer in this transaction is Grant Cardone, representing Cardone Capital. The sale price for the property was $744,000,000.
Fort Lauderdale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93