AUSTIN, TX – Cardone Capital announced the acquisition of 10X Living at Grandview, a premier garden-style residential rental community of 458 units built in 2004 in Austin, Texas. The deal closed on December 27th, making it the fourth sizable acquisition for Cardone Capital in 2018.
Cardone Capital, with over 4,500 units currently under management, has spent over 25 years focusing on investing in income-producing, affordable living in secondary and tertiary markets and is changing the way people invest in multifamily real estate by offering real asset ownership, no broker fees, monthly distribution of funds as well as accredited and non-accredited fund offerings.
Grant Cardone, CEO of Cardone Capital commented, “Sitting on the summit of one of the highest mountains in all of Austin and the surrounding metropolitan areas, the location of 10X Living at Grandview is irreplaceable, offering outstanding views. Residents enjoy incredible convenience to major employers, upscale retail, and recreational venues at nearby Lake Austin and Bull Creek Park.”
Assess to the community is from a scenic private roadway. The neighborhoods surrounding Grandview currently have single family home values of nearly $900,000 and homes with views comparable to Grandview exceed $1 million. In addition, the one mile radius surrounding Grandview has an average household income exceeding $195,000.
“10X Living at Grandview is exactly what we look for at Cardone Capital—a great location with affordable rents. We expect this acquisition will be extremely rewarding for our investors.” —Ryan Tseko, Portfolio Manager at Cardone Capital.
Non-accredited investors now have the opportunity to invest with Cardone Capital. Sheri Hamilton, Chief Operations Officer of Cardone Capital, noted, “This opportunity gives the less experienced, less capitalized investor access to the kind of deals usually reserved for big players on Wall Street.”