The Aventura, Florida-based real estate investment firm Cardone Capital has launched 10X Space Coast Bitcoin Fund, which combines institutional-quality real estate with Bitcoin purchases.
According to the company, the $87.5 million fund marks the first time a major real estate investment firm has paired cash-flowing multifamily properties with structured Bitcoin purchases. The Fund will simultaneously close on the acquisition of a 300-unit, Class A multifamily asset in Melbourne, Florida, and make an eight-figure Bitcoin purchase.
The company added the Fund’s real estate component will be purchased without debt and generate immediate positive cash flow. The real estate asset’s monthly income will fund ongoing, strategic Bitcoin purchases.
“After studying Bitcoin for over eleven years, we’ve developed an approach that pairs the stability of cash-flowing real estate with Bitcoin’s growth potential,” said Grant Cardone, founder and CEO of Cardone Capital. “We will continue to target a 12%-15% IRR on our underlying real estate investments while potentially boosting total returns through this hybrid strategy.”
“This tax-free refinancing strategy has been used by the wealthiest real estate investors and institutions for decades to build generational wealth,” added Ryan Tseko, executive vice president of Cardone Capital. “Our investors potentially will get their initial capital back without paying taxes while keeping their entire ownership position in appreciating assets. It’s how the ultra-wealthy compound their wealth, and we’re making it available to our investors.”
Photo: Grant Cardone, courtesy of Cardone Capital
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