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As the Southeastern United States’ real estate market continues its strong performance, the CARROLL real estate investment and management firm continues to take a leadership role in this highly competitive arena. In mid-July 2021, the Atlanta-based CARROLL launched its 2021 Q3 activity with a strategic multifamily community acquisition. Led by Founder and CEO M Patrick Carroll, CARROLL recently purchased The Avenue apartment homes in Ocoee, Florida.
CARROLL acquired this 522-unit Orlando multifamily community through Carroll Multifamily Venture VI, LP, the Company’s most recent institutional funding channel. This acquisition bolsters CARROLL’s Orlando market presence to over 2,500 units.
Orlando’s Strong Business and Investment Climate
M Patrick Carroll, speaking at a recent real estate summit, emphasizes that the Orlando metropolitan market offers many advantages. “Orlando has experienced a dramatic rebound in the first half of 2021, with record levels of demand for multifamily driving unprecedented occupancy gains and rent growth,” noted Carroll.
“Orlando has a dynamic business climate that continues to diversify far beyond its tourism roots, benefitting from a highly-skilled workforce and a broadening industry base featuring rising healthcare and technology sectors. Apartment fundaments should remain strong as the area is expected to continue as one of the nation’s leaders in both employment and population growth during the coming years.”
Florida Offers Statewide Real Estate Investment Advantages
Taking a wider perspective, Florida’s population has been steadily increasing, creating a corresponding demand for varied housing options. The state’s low taxes and business-friendly government policies have also contributed to Florida’s growth.
Florida’s COVID-19 pandemic response was also more conducive to real estate market expansion. During the pandemic’s peak in 2020, the state imposed relatively few lockdown constraints, causing less disruption to the flow of real estate market cycles.
Factors Behind The Avenue Multifamily Community Purchase
CARROLL’s purchase of The Avenue apartment homes represents the acquisition of a favorably located property in the expanding Orlando metropolitan market. This 1998-era garden-style multifamily community is ideally set on over 52 acres. A scenic 19-acre lake invites residents to enjoy waterfront views.
This desirable enclave is also less than 10 miles west of Orlando’s downtown area. Residents have easy access to regional employment hubs, entertainment venues, and retail centers.
How CARROLL Will Rebrand This Orlando-Area Community
CARROLL will completely renovate the apartments’ interiors while upgrading the community’s amenities and common areas. When complete, CARROLL will rebrand this vibrant multifamily community as ARIUM Lakeview. CARROLL will manage the property as part of the Company’s “ARIUM” multifamily brand.
CARROLL’s 2021 Q2 Property Sales Demonstrate Southeast U.S. Market Expertise
CARROLL has gained a widespread reputation as a major player in the Southeastern United States’ real estate markets. Specifically, the Company has successfully completed numerous transactions in the multifamily housing sector.
Two Atlanta Upscale Multifamily Communities Property Sales
To illustrate, in 2021 Q2 CARROLL executed the sale of two desirable Atlanta-area apartment communities. CARROLL CEO M Patrick Carroll managed the sale of the ARIUM Station 29 and ARIUM Dunwoody multifamily developments. The Company realized a favorable investment return on both property sales.
Both garden-style apartment communities offer a gated setting, giving them an upscale appearance among the many competing developments in the metropolitan Atlanta area. Although each property has specific attributes, both complexes offer easy access to thriving office submarkets and growing employment hubs.
About M Patrick Carroll
M Patrick Carroll is the Founder and CEO of the Atlanta-based CARROLL organization. In his early 20s, Carroll was working as an Atlanta-area clothing representative while visualizing himself as the owner of a highly successful real estate investment business.
During his four years spent in the Atlanta business world, M Patrick Carroll had cultivated numerous beneficial connections with regional business leaders. Many business owners and executives assisted this young entrepreneur as he prepared to open his real estate investment company.
In 2004, M Patrick Carroll resigned his full-time job and brought the CARROLL organization into the Atlanta real estate marketplace. The 24-year-old businessman possessed unlimited ambition and energy, and the all-caps business name continues to reflect those dynamic attributes.
M Patrick Carroll’s initial Georgia and Florida property investments marked his first foray into the Southeastern United States’ real estate market. Today, Carroll figures prominently in numerous large-scale commercial real estate transactions. M Patrick Carroll utilizes his market expertise and exceptional due diligence to realize returns for his institutional investors.
The CARROLL organization is a privately held real estate investment firm with corporate offices in Atlanta, Georgia. Founded in 2004, CARROLL provides exceptional investment management, construction management, and property oversight services. CARROLL’s regional New York, Raleigh, Tampa, and Houston offices enable the firm to serve clients across the United States.
As of 2021, CARROLL has been involved in the purchase, development, or sale of over $12.9 billion of real estate assets. The firm has utilized CARROLL-sponsored funds and joint ventures to raise more than $2.7bn of equity as of June 2021.
CARROLL’s Multiple-market Focus
The CARROLL organization remains strongly focused on multifamily communities investments. In addition to acquisitions, the Company offers property and asset management services along with fund management.
To illustrate, CARROLL maintains oversight of 27,000 multifamily units throughout seven states. In addition, the Company has completed the purchase of other United States-based multifamily owner/operators.
CARROLL’s wide-ranging capabilities have led to the successful development of single-family residential, student housing, and retail communities. In addition, the firm has executed more than $250 million of construction management projects for its owned properties and fee partners’ endeavors.
CARROLL’s Unconventional Investment Strategy
To target potentially feasible investments, CARROLL performs ongoing in-house analysis to identify undervalued or underperforming properties. Astute team members also monitor emerging trends, knowing that industry leaders will likely act on those market indicators.
When other players line up behind the market leaders, CARROLL is often presented with promising investment opportunities in sometimes-ignored areas. If a potential investment meets CARROLL’s demanding criteria, the Company will boldly pursue it, typically seeking a return for its institutional investors.
With unparalleled due diligence and the capabilities and partnerships to identify and execute complex transactions, CARROLL is poised for continued growth in the coming years.
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