Source: Carroll Organization / #Apartments #Multifamily
ORLANDO, FL – The Carroll Organization, one of the country’s leading privately-held real estate companies focused on multifamily investment, management, and development has acquired the 298-unit, multifamily property Bala Sands in Orlando, Florida.
The residential community marks the company’s third acquisition in Orlando this year, and its ninth in Florida. The Atlanta-based firm will continue to enhance the resident experience through hands-on management and thoughtful amenity and interior renovations.
Carroll is rebranding the property “ARIUM Bala Sands” in keeping with the brand identity and values of the company’s rapidly growing national portfolio. Including Bala Sands, the Carroll Organization has completed nearly $1 billion of multifamily acquisitions throughout the Southeast over the first 11 months of 2013.
“Bala Sands is an exceptional asset located in the heart of Orlando with tremendous upside potential through amenity and interior renovations,” said M. Patrick Carroll, Founder and CEO of Carroll Organization. “This acquisition – our third in Orlando in 2013 – speaks to our business plan to target desirable multifamily assets in well-performing markets and in close proximity to major thoroughfares and business centers.”
Built in 2002, Bala Sands is a garden-style multifamily apartment community strategically located in Florida’s Southwest Orange County with frontage and visibility along Colonial Drive and East-West Expressway. Recognized as one of Humphreys & Partners Architecture’s first “big-house” designs in Central Florida, Bala Sands is comprised of 40 two-story buildings within 29 landscaped acres. The complex consists of one, two and three-bedroom homes, each with an attached, direct entry garage, which provides the feeling of a single family home while being part of a larger community. Along with a main clubhouse, Bala Sands has two resort-style community pools, professionally landscaped courtyards, 24-hour fitness center, an entertainment facility and a fully-equipped business center.