ATLANTA, GA – Carroll Organization, one of the country’s leading privately-held real estate companies focused on multifamily investment, management, and development, continued expanding its Florida portfolio by acquiring the 17th major multifamily asset in the state. In joint venture with Bluerock Real Estate LLC, Carroll purchased Venue in Orlando, FL. Venue is a 306-unit property that was built in 2005 and has phenomenal exterior and interior amenities. Carroll Organization will begin its rebranding efforts by changing the name to ARIUM Grande Lakes.
“Orlando has one of the strongest multifamily markets in the country and it’s reflected in our current portfolio of over 1,000 units there,” said M. Patrick Carroll, Founder & CEO of Carroll Organization. “This purchase not only enhances our portfolio with a solid investment, but also gives us the ability to efficiently scale our operations by leveraging our existing property management infrastructure in the region.”
ARIUM Grande Lakes offers one of the best amenity packages in its submarket. Amenities on the property include a resort style pool with large sundeck, indoor basketball court, fitness center, business center, dog park, media room, playground, controlled access, BBQ grilling areas, volleyball courts and a putting green. The interiors of this property are equally as attractive as the exterior amenities. The property is also conveniently located on Central Florida Parkway, adjacent to John Young Parkway and State Road 528; this provides easy access to the tourist attractions Orlando houses, including Walt Disney World, Sea World and Universal Studios.
Carroll continues to be one of the most active buyers in the country. So far in 2014, the company has purchased ten multifamily properties valued at over $463 million. The company sourced many of its deals “off-market” directly from developers and owners, and is recognized within the brokerage community as a go-to buyer that performs.
About Carroll Organization: Carroll Organization is among the leading privately-held real estate companies in the United States. Founded in 2004 and based in Atlanta, Carroll Organization focuses on multifamily properties, including acquisitions, property and asset management services, and fund management. The firm has raised over $545 million of equity through Carroll Organization sponsored funds and joint ventures, and its current investment portfolio is valued in excess of $1.7 billion. Carroll Organization’s regional offices are located in Houston, Orlando, and Miami. Today, the company manages approximately 16,500 multifamily units in six states and has purchased other multifamily owner/operators throughout the U.S. The firm has also developed student housing, single-family residential and retail properties, and has overseen millions of dollars in construction management for both its owned and fee partners. From due diligence to execution, Carroll Organization has the internal capabilities and the external relationships to identify, underwrite, and close transactions.