Grant Cardone Of Cardone Capital Acquires 282-Unit Orchid Run Multifamily In Naples For $89.8M

The Orchid Run apartment community is a multifamily property located at 10991 Lost Lake Drive in Naples, Florida. This asset features 282 units and was sold for a transaction amount of $89.8 million. The price per unit stands at $318,440, and the property was constructed in 2015.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $89,800,000
• Units: 282
• Address: 10991 Lost Lake Drive
• Market: Naples, FL
• PPU: $318,440
• Buyer: Grant Cardone - Cardone Capital
• Seller: Daniel L. Goodwin - Inland Real Estate Group of Cos.
• Brokers: Matt Mitchell & Chris Burtner - Berkadia

Grant Cardone, representing Cardone Capital, completed the acquisition of the property from Daniel L. Goodwin, who is affiliated with The Inland Real Estate Group of Companies. This purchase increases Cardone Capital’s holdings to over 14,800 apartment units.