Cardone Capital Just Paid $89.75 Million for a Collier County Apartment Complex. Here's What It Means.

A Bitcoin-linked investment fund's latest acquisition puts a nine-figure price tag on 282 apartment units in Collier County.

Institutional investors are still writing big checks in Southwest Florida real estate, even in a market that's cooled from its 2022 peak.

Cardone Capital has paid $89.75 million for the 282-unit Orchid Run apartment complex in Collier County, according to Gulfshore Business. The deal is part of the firm's "10X Naples + Bitcoin Fund," tying a traditional multifamily acquisition to a cryptocurrency-linked investment vehicle, a pairing that's becoming more common as investment groups look for new structures to fund real estate purchases in growth markets like Collier County.

The purchase lands the same week Neal Communities paid $34.1 million for 788 acres in Alva, a deal that clears the way for a community entitled for more than 1,000 homes, according to Gulfshore Business. Together, the two transactions suggest that while individual homebuyers are navigating a more balanced, patient market, institutional capital isn't waiting on the sidelines.

For context, Redfin data shows Naples homes are taking longer to sell than they did two years ago, and the region's overall Compete Score sits at a "not very competitive" 5 out of 100. Big multifamily and land deals like these move on a different timeline than single-family resale, but they're a signal of continued confidence in the region's long-term growth.

We don't have additional detail beyond what Gulfshore Business reported on unit mix, occupancy, or the fund's future plans for the property, we'll follow up if more surfaces.

Sourced from Gulfshore Business and Redfin. Every factual claim above links to its original source, click through to verify before sharing.