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.

About Cardone Capital

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. Cardone Capital’s mission is to identify, acquire and manage income producing properties that provide opportunities for investors to preserve capital investments, collect consistent cash distributions while waiting for future capital appreciation of the assets. For more information visit: cardonecapital.com