ATLANTA—The Carroll Organization is continuing its multifamily acquisition stream. Carroll just acquired a stake in The Trellis, a 264-unit, garden style multifamily property in the Georgetown area of Savannah, GA.

Completed in 2010, The Trellis is one of the highest-quality assets in the southwest of Savannah's historic downtown area. The multifamily transaction is a recapitalization of the asset for Charter Development Co., Inc. of Auburn, AL.

“This transaction presented a terrific opportunity to own a high quality apartment asset in Savannah together with a seasoned partner,” says M. Patrick Carroll, founder and CEO of Carroll. “There is limited quality rental inventory in this desirable neighborhood and we feel that The Trellis is well positioned to benefit from strong demand as the local economy continues to rebound. This deal also demonstrates our capability to source deals through structures other than the traditional acquisition model.”