Home News Cardone Capital Closes Two Funds, Launches New Opportunity Fund

Cardone Capital Closes Two Funds, Launches New Opportunity Fund

Cardone Capital, a Miami-based private equity firm that invests in multifamily properties across the southeast United States, has closed Cardone Equity Funds VI and Cardone Equity Fund VIII.

Cardone Capital, a Miami-based private equity firm that invests in multifamily properties across the southeast United States, has closed Cardone Equity Funds VI and Cardone Equity Fund VIII.

The company also launched the Cardone Equity Fund IX, a $50 million Regulation D 506(c) offering that plans to invest in distressed and opportunistic assets created by the COVID-19 crisis and shutdown.

According to filing with the Securities and Exchange Commission, Cardone Equity Fund VI is a $50 million Regulation A fund that was qualified by the SEC in September 2019, and Cardone Equity Fund VIII is a $100 million Regulation D 506(c) offering that was registered in October 2019.

Cardone Equity Fund VI raised nearly $30 million, and Cardone Equity Fund VIII raised $79.3 million and had $3.2 million in included equity. Cardone indicated that the two funds utilized the $112 million to purchase four multifamily properties for $350 million.

The properties include the 288-unit 10X Living at Panama City Beach in Florida; the 531-unit 10X Living at Columbia Towncenter in Columbia, Maryland; the 360-unit Retreat at Panama City Beach; and the 294-unit Addison Place in Naples, Florida.

Cardone Capital was founded by Grant Cardone and has total assets under management of $1.7 billion. The company is currently active in six states, including Florida, Georgia, Tennessee, Texas, Alabama, and Maryland.

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