Cardone Capital Acquires 240-Unit Class A Orlando Apartment Complex
MURANO ACQUISITION BRINGS GRANT CARDONE’S AUM TO $800,000,000.
ORLANDO, FLA. —Cardone Capital, an Aventura FL-based multifamily investment firm, has acquired the upscale Murano apartment complex in Orlando, Florida. The seller of the property was a joint venture comprised of a trio of Miami-based real estate development companies—The Courtelis Company, Kislak Organization and HMG/Courtland Properties. The acquisition of Murano brings Cardone Capital’s total AUM to approximately $800 million.
Grant Cardone, CEO of Cardone Capital and a New York Times best-selling author of seven business books, including the international blockbuster The 10X Rule, says, “Murano is a great addition to our existing 5000 unit multifamily portfolio. We are optimistic on the continued growth of the Orlando market. The Home of Mickey has all the right metrics; economic growth, job growth, stable and growing incomes, affordable living, good schools and a migration story that will not be stopped.”
Built in 2016, Murano is a Class A property located on a 9-acre site in Orange County, FL. It sits on a great location across from the Ritz Hotel and JW Marriott.
The property’s on-site amenities include a million-dollar saltwater pool, a poolside pavilion that features a lounge area and summer kitchen, a clubhouse that includes an internet café, a coffee bar, a gaming room, and a 2000 square foot state-of-the-art fitness center that rivals Equinox, LA Fitness, 24 Hour Fitness and other well equipped gyms.
Murano’s average rents are under $1500 making it affordable living for most of Orlando and offers great access from Lake Nona to Kissimmee and all the way to Windemere.
Cardone has had a presence in Orlando for over twenty years with his automotive consulting arm, The Cardone Group, which he founded in the 1990’s.
About Cardone Capital
Cardone Capital is a private-equity real estate firm that specializes in incoming producing product, mostly in the multifamily housing sector. With 25+ years of experience in the real estate industry, the firm acquires, improves, and operates multifamily real estate in growth markets in five states; Tennessee, Georgia, Alabama, Texas and Florida.
Cardone Capital’s mission is to identify, acquire and manage income-producing properties in great locations that provide opportunities for investors to preserve capital investments, collect consistent cash distributions while providing future capital appreciation of the assets. For more information visit www.cardonecapital.com