106 South Federal Highway
The Golden Beach-based social media star, motivational speaker and founder of the 10X business growth platform, closed on the $744 million purchase of four properties: two near downtown Fort Lauderdale, one in Sunrise and another in Weston.
The portfolio of roughly 1,700 units will be rebranded under Cardone’s 10X stamp. The properties are 99 percent leased. The 456-unit Las Olas Walk, which will be anointed 10X Living Las Olas Walk. Seller Zom Living, based in Orlando, developed the two eight-story buildings this year at 106 South Federal Highway.
The complex has studios to three-bedroom apartments, ranging in monthly rent from $1,892 to $5,225, according to Apartments.com.
The 25-story, 260-unit Four West Las Olas, rechristened 10X Living Riverwalk in an homage to its location overlooking the New River. The selling entity, tied to Elevate Partners, completed the building last year at Four West Las Olas Boulevard. The building offers studios to three-bedroom apartments, ranging in monthly rent from $2,465 to $7,748, according to Apartments.com.
The 387-unit, garden-style Colonnade Residences, now 10X Living Sunrise, at 1640 Northwest 128th Drive in Sunrise and across the street from the Sawgrass Mills shopping mall. The community offers one-, two- and three-bedroom units, ranging in monthly rent from $1,646 to $2,242, according to Apartments.com.
The 585-unit, garden-style, San Michele at 1343 St Tropez Circle in Weston. It is now called 10X Living Weston. It consists of two-story and three-story rental townhouses, according to a Cardone news release. Apartments.com shows townhouses range from two to four bedrooms, with monthly rents from $2,025 to $3,300.
About $20 million in capital improvements, mostly renovations to units, are planned for the Sunrise and Weston communities, as they are older.
The Broward multifamily portfolio brings Cardone’s multifamily holdings to roughly 12,000 units, mostly in South Florida.