We advised subsidiaries of El Ad Group on the sale

Davis Polk advised subsidiaries of El Ad Group, Ltd. in connection with the sale of El Ad’s interest in both Colonnade at Sawgrass Condominium and San Michele Condominium, each a multifamily rental condominium development in South Florida.

El Ad Group, a real estate investment and development company, is part of the Tshuva Group of Companies controlled by Isaac Tshuva, an Israeli businessman. El Ad Group is actively involved in residential and commercial developments in prime U.S. and Canadian markets.

Cardone Capital is a project of Grant Cardone and is focused on providing everyday investors with access to institutional-grade real estate investments. Cardone manages over $2 billion of assets across its various funds.

The Davis Polk real estate team included partner Michael J. Rishty and associates Nicholas Soilleux, Jaclyn Katz, Gregory D. Crane and Shua Mermelstein. Partner Po Sit and associates Daniel L. Jose, Tyler Scheiner and Jacob M. Donnelly provided tax advice. All members of the Davis Polk team are based in the New York office.