National real estate investment firm CARROLL has acquired three limited partner deals in Arizona, North Carolina, and Texas for a combined purchase price of over $200 million. The separate transactions represent over $80 million in equity and add over 650 multifamily units to the Atlanta firm’s portfolio.
According to CARROLL, its track record as a general partner and its growth in fundraising has allowed the firm to fully acquire deals through its latest fund vehicle. “This new chapter should enhance the firm’s credibility in the marketplace and help secure more concentrated decision-making control for its investments,” said the firm.
The three multifamily communities, which have an average build year of 2017, are in the strong Sun Belt metros of Austin, Texas; Charlotte, North Carolina; and Phoenix. With diverse employment centers, these metros have experienced in-migration and job growth, providing CARROLL with an opportunity to create additional value for its residents. The Phoenix acquisition marks CARROLL’s entry into Arizona, and it is reentering the Austin market with this latest transaction.
"As we continue to evolve as a company, we are excited that our recent fundraising efforts have provided us enough capital to wholly own these three deals in which we have strong conviction," said founder and CEO M. Patrick Carroll.
These transactions bring CARROLL’s multifamily activity for 2022 up to 24, with 10 acquisitions and 14 dispositions representing $2 billion in deal volume.
