Source: Cardone Capital / #Apartments #Multifamily
HOUSTON, TX - Cardone Capital, a Miami-based multifamily investment firm, has acquired Woodway Square, a 507-unit apartment complex located in Houston, Texas. The seller of the property was Fairfield Residential.
Woodway Square is one of the assets controlled by Cardone Capital’s $40 million Cardone Equity Fund.
Grant Cardone, CEO of Cardone Capital, said, “Woodway Square is exactly what we look for at Cardone Capital—great location, affordable housing, and a value add component bought well below replacement cost.”
Built in 1992, the property sits on 15 acres with a 2-acre park, 60 yards from Whole Foods and surrounded by million dollar homes.
Cushman Wakefield acted as agent for the transaction.
Cardone Capital is a private-equity real estate firm that specializes in the multifamily housing sector. With 20+ years of experience in the real estate industry, the firm acquires, improves, and operates multifamily real estate in growth markets in five states.