JACKSONVILLE, FL—Carroll Organization isn't missing a beat executing its multifamily acquisition strategy. The company partnered with NorthStar Realty Finance Corp. to snap up its second major multifamily property in Jacksonville, FL within the past two months.

After buying Club at Danforth in May, the joint venture has purchased Paddock Club. The deal marks Carroll's 10th acquisition in 2013 and gives the firm more than 1,000 units in the Jacksonville and Savannah areas and 10,000-plus in across six states.

“Jacksonville has recovered significantly to become a target market for investment,” says M. Patrick Carroll, founder and CEO of Carroll. “Like Club at Danforth, which we acquired last month, the Paddock Club is a well-located top-tier asset with excellent curb appeal and access to major employment centers, as well as the additional opportunity to increase value through capital improvements and marketing strategies.”