ATLANTA-Carroll Organization has closed on a private equity fund. The owner-operator of multifamily real estate is forging ahead with Carroll Co-Invest Fund I, which will target class A and class B-plus properties in the Southeast and Texas.

The fund will empower Carroll to acquire about $300 million worth of multifamily properties over the next 12 to 24 months. The company’s strategy is to grow the organization’s owned portfolio to 10,000 units over the next two years.

“We'll rely on and leverage existing relationships to target off-market deals,” Carroll CEO Patrick Carroll tells GlobeSt.com. “We have a solid track record of learning about great opportunities early. We will also continue to use our strong management capabilities to improve the properties we purchase.”