FORT LAUDERDALE, FL—In one of the largest single-asset multifamily acquisitions of 2013, Carroll Organization is continuing its Southeast multifamily acquisition streak in Pembroke Pines. The privately-held real estate company has snapped up The Resort at Pembroke Pines, a trophy multifamily asset in a highly desirable location in Broward County, for $225 million.

Atlanta-based Carroll acquired the multifamily complex in a joint venture with investment partner American Property Holdings Corp., a real estate investment company controlled by Prospect Capital Corp., in an off-market deal. The Resort is a 1,520-unit, 190-building on 84.5 acres. Built in a number of phases from 1986 to 1990, all multifamily units are corner units, including one-bedrooms.

“This signature transaction is the Carroll Organization's greatest acquisition to date,” says M. Patrick Carroll, founder and CEO of Carroll. The Resort really takes our portfolio to the next level. It's a very special, institutional quality asset in this key geographic market.