CARROLL is rebranding the 324-unit Bishop Park in Winter Park, Florida, as ARIUM Winter Park. The multifamily community is part of the 12-property portfolio in Florida recently acquired by CARROLL and partner PGIM Real Estate.
Courtesy CARROLL CARROLL is rebranding the 324-unit Bishop Park in Winter Park, Florida, as ARIUM Winter Park. The multifamily community is part of the 12-property portfolio in Florida recently acquired by CARROLL and partner PGIM Real Estate.

National real estate investment and management company CARROLL, in partnership with PGIM Real Estate, continues to capitalize on Florida’s steady population and employment growth. The company, in partnership with PGIM Real Estate, has acquired 12 multifamily communities with 3,976 units across four markets.

The acquisition includes one community in Fort Lauderdale, seven in Orlando, three in the Sarasota and Bradenton area, and one in West Palm Beach. The assets were purchased through CARROLL’s latest institutional investment vehicle, Carroll Multifamily Venture VI.

The properties, which will be managed by CARROLL and rebranded under the ARIUM name, include:

  • ARIUM Altamonte Springs (Ashford Altamonte Springs);
  • ARIUM Winter Park (Bishop Park);
  • ARIUM Springs Colony (Springs Colony);
  • Twelve Oaks at Windemere by ARIUM (Twelve Oaks at Windemere);
  • ARIUM Valencia Gardens (Verona at Valencia Park);
  • ARIUM Mission Bay (Mission Bay);
  • ARIUM Mariner’s Village (Valencia Plantation);
  • ARIUM Bristol Bay (Perico Apartments);
  • ARIUM Citrus Run (Mcintosh Apartments);
  • ARIUM Grove Walk (Heron’s Run);
  • Gardens East by ARIUM (Gardens East); and
  • Park Place at Turtle Run by ARIUM (Park Place at Turtle Run).

“We are thrilled to add 12 well-located assets to the growing Florida market,” said founder and CEO M. Patrick Carroll. “Florida continues to be one of our most desirable markets as it acts as a magnet for corporations and individuals seeking a business-friendly environment, lower cost of living, and improved quality of life. Since inception, we have invested more than $1.5 billion in equity across the state, and we anticipate no signs of slowing down in 2022 due to strong in-migration, job growth, and apartment demand.”

CARROLL has maintained an active presence in Florida since its founding in 2004. It manages 39 multifamily communities with more than 13,000 units across the Sunshine State. Between 2015 and 2021, the company has realized 46 investments in the state.

According to the company, 2021 will be a record year for transaction activity; it has executed 37 acquisitions and 32 dispositions totaling $6 billion, including deals closed and under contract. In November, CARROLL announced that it, in partnership with PGIM Real Estate, had sold 12 multifamily communities, valued at more than $1.1 billion, in Florida, North Carolina, and South Carolina. The company also recently acquired two multifamily communities in its home market—The Artisan and Berkshires at Lenox Park—for a combined purchase price of $175 million through Carroll Multifamily Venture VI.