CARROLL Demonstrates Continued Momentum in Multifamily Sector Through Sale of Six Properties

The Sales are Significant Q4 Deals for the Atlanta-based National Real Estate Investment Company

ATLANTA, GEORGIA, UNITED STATES, November 12, 2020 /EINPresswire.com/ -- CARROLL, an Atlanta-based national real estate investment firm, executed the sale of six multifamily communities, valued at approximately $255 million, representing nearly 2,000 units across Texas, North Carolina, and Florida.

CARROLL acquired these properties through its investment vehicles, Carroll Multifamily Real Estate IV and Carroll Multifamily Real Estate Fund V, LP. These properties include four Arlington, Texas, communities: Summit Ridge, Cobblestone, Aspen Court, and Autumnwood, along with Forest Hills, Wilmington, N.C.; and ARIUM Deerwood, Jacksonville, FL.

The five properties located in North Carolina and Texas were part of a 28-property Bedrock portfolio acquisition in 2017 – a blockbuster moment for CARROLL that helped catapult the company’s position as a multifamily investor. The $1 billion Bedrock portfolio acquisition in 2017 included approximately 8,500 units across four states; prior to the sale of these five properties in October of this year, CARROLL sold six additional Bedrock properties for $170 million.

“When we acquired these assets, we saw an opportunity in the marketplace to capitalize on the majority of the rental population by investing in naturally affordable assets that catered to 80-120 percent of the area’s median income, where the income to rent ratio provided for future growth and value, while still remaining affordable to the masses,” said Josh Champion, CARROLL president and chief investment officer. “The disposition of these assets continues to prove our thoughtful diligence and thesis around this investment strategy, and CARROLL will continue to pursue opportunities to buy and sell in this segment to provide great risk-adjusted returns to our investors and partners.”

Coming on the heels of three major acquisitions in the Atlanta area in October, the success of these transactions demonstrates CARROLL’s continued momentum and growth in the midst of a global pandemic. The investment firm has exited nearly $500 million worth of deals this year, and continues to manage nearly 30,000 units across the country.

Looking to the new year, CARROLL will continue to bolster its platform through a full suite of service solutions for partners and investors with its end-to-end property management services, while also maintaining its long-term strategy of investing in Sunbelt markets. The move to provide these offerings externally as standalone or bundled services will allow CARROLL to take a long-range view of the multifamily sector and related verticals.

About CARROLL
CARROLL, a privately held real estate company, was founded in 2004. With headquarters in Atlanta, Ga., CARROLL focuses on multifamily communities, including acquisitions, property and asset management services, and fund management. The firm has raised more than $2.7B of equity through CARROLL-sponsored funds and joint ventures. CARROLL has successfully purchased, developed or sold more than $12 billion of real estate. CARROLL also has regional offices in Houston, Raleigh, Tampa, and New York.

The company manages more than 30,000 multifamily units in seven states and has purchased other multifamily owner/operators throughout the U.S. The firm has also developed student housing, single-family residential, and retail communities, and has overseen more than $200M of construction management for both its owned and fee partners. From due diligence to execution, CARROLL has the internal capabilities and the external relationships to identify, underwrite, and close transactions. For more information, visit carrollorg.com.

Samantha Harber
Interdependence Public Relations
SHarber@interdependence.com

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