While most institutional investors are sitting on the sidelines unsure of how to respond to the current conditions in the real estate market, one successful investor sees major opportunities.
Real estate mogul and “Undercover Billionaire” Grant Cardone just launched his latest fund, Cardone Equity Fund 22, through his real estate investment firm Cardone Capital after oversubscribing his last acquisition of the Promenade Corporate Center in Scottsdale, Arizona, by $40 million.
Fund 22 will allow accredited investors to participate in opportunistic deals such as distressed sales and rescue capital. The fund will strategically target multifamily assets that exhibit strong potential for near-term income and long-term appreciation.
“Most institutions and big banks are pencils down in this environment while I am looking for unique investment opportunities. Because of the reputation we’ve gained in the marketplace as a sure-to-close buyer, I’m being presented with opportunities that others are not able to gain access to,” Cardone said.
Cardone believes attractive investment opportunities will increase as the U.S. cycles through an inflationary environment. Fund 22 is seeking up to $150 million in capital commitments to target properties in high-growth markets that have demonstrated substantial increases in population and job creation.
The Cardone Capital team will consider investing across the risk-return spectrum, including new developments, core properties and Class B properties in prime locations in need of a value-add program. The fund will also look at other types of commercial real estate on an opportunistic basis, particularly office properties with an attractive price.
Cardone Capital offers both accredited and nonaccredited investment vehicles. Distributions are either monthly or quarterly based on the platform selected. Both vehicles offer all of the benefits of owning institutional-quality real estate, including passive income, capital appreciation and depreciation write-offs.
Cardone has been successful in tapping into his massive online presence of over 15.8 million followers across YouTube, Twitter, Facebook, Instagram, TikTok and LinkedIn to raise funds quickly and act decisively when the right opportunity arises.
Since its inception in 2016, Cardone Capital has raised approximately $1 billion from over 11,500 accredited and nonaccredited investors. The company’s real estate portfolio includes over 11,900 apartment units across 38 properties and over 500,000 square feet of commercial office and retail space.
Cardone says he created Cardone Capital to provide everyday investors access to the institutional-grade real estate deals normally reserved for only the largest investors.
More information on the latest fund and past investments can be found on the Cardone Capital website.
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