Real estate investment firm Cardone Capital LLC has acquired Altis Boca Raton, a 398-unit multifamily property in Boca Raton. The sales price and seller was not disclosed.

The property is comprised of a six-story midrise design and features an average unit size of 1,005 square feet. The property is adjacent to Park at Broken Sound, which includes more than 8 million square feet of office and industrial space. Nearby retailers to the property include Fresh Market, Chipotle, Raw Juice, Fresh Kitchen, Habit Burger, Cycle Bar and Bonitas.

The property was purchased for Cardone Capital’s most recent equity fund, Cardone Equity Fund X, LLC which allows accredited investors to participate in the firm’s institutional grade real estate deals through crowdfunding. The acquisition is part of the firm’s strategy to provide investors with the opportunity to participate in institutional grade real estate deals in high-growth markets.

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