ATLANTA—Carroll Organization just announced the initial closing of a new private investment fund. Carroll Fund II will provide buying power to acquire up to $600 million worth of multifamily communities in the Southeast and Texas.

“The market for high quality multifamily is extremely competitive, and for good reason—buyers can get great returns for what is perceived as relatively low risk,” Patrick Carroll, founder and CEO of the Carroll Organization, tells GlobeSt.com. He expects his firm to be extremely competitive in this environment because it can close large acquisitions.

“We're now being flooded with opportunities that I don't think we would have been brought a year ago,” Carroll says. “There is a surety of close with Carroll as the buyer.”