Grant Cardone sells Boca Raton apartment complex for $17M

Company tied to former Palo Alto Mayor Gregory Scharff bought the property

Grant Cardone, Boca Raton apartment complex
Grant Cardone, Boca Raton apartment complex

Motivational speaker and author Grant Cardone just sold an apartment complex in Boca Raton for $16.8 million.

Cardone, the author of popular books about sales techniques such as “10X Rules” and “Sold or Be Sold,” sold the 102-unit property at 1202 and 1300 Southwest First Avenue, and 1150 Southwest Second Avenue for about $165,000 per unit to Boca Islands East, which is managed by Gregory Scharff, the former mayor of Palo Alto, California.

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Records show Boca Islands East secured a $10.1 million loan from Hunt Real Estate Capital to purchase the property, which includes apartments and office space. It was built in 1966.

Cardone’s company, Realm 102, paid $12.5 million for the 1.2-acre site in 2015.

Cardone has acquired multifamily properties across the country, including in South Florida. In October, Cardone Capital paid about $90 million for the 346-unit Atlantic Delray Apartments in Delray Beach at 14050 Pacific Point Place. His Cardone Acquisitions paid $13.5 million for an office building in Aventura in July.

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