Carroll Spends $103M on SE Multifamily

ATLANTA—Carroll Organization has been on a multifamily buying spree lately that’s seen hundreds of millions invested. After spending $46 million last week and $41 million last month on multifamily assets in the Southeast, Carroll once again partnered with NorthStar Realty Finance Corp on its latest deal. The joint venture bought four multifamily properties for $102.5 million. Carroll will rename all the properties with the Arium brand.

The portfolio includes the Club at Danforth in Jacksonville, FL; Harbour Green in Panama City Beach, FL; Links at Georgetown in Savannah, GA; and Vintage at the Parke in Murfreesboro, TN. This acquisition marks Carroll Organization’s ninth purchase since the beginning of 2013. The firm now owns and manages more than 10,000 multifamily units in seven states.