ATLANTA—Now that Carter has slimmed down its operation by selling off its brokerage and property management groups, the company is honing in on new opportunities. The firm is pursuing $500 million worth of developments and investments.

Carter will focus on developing mixed-use and for-rent multifamily projects in urban infill locations, equity development of student housing, acquisition of opportunistic and value-add investments in office. The firm will also work to grow its established project management and strategic consulting businesses.

“The sale of our brokerage services and property management businesses marks a milestone for Carter,” chairman and CEO Bob Peterson said in a statement. “This transaction was a major step for us in executing our strategy to narrow Carter’s focus on building high-quality projects, investing in real estate and providing strategic solutions to our clients.”