CHARLOTTE—Carroll Organization continues its multifamily run with the purchase of New Haven Apartments. The apartment community is in a high profile area of Raleigh Durham next to the Research Triangle Park.

Carroll sources many of its deals “off-market,” leveraging strong relationships with owners and developers. The Atlanta-based company acquired the 369-unit, garden-style multifamily community for an undisclosed purchase price.

“This transaction represents the first of many new multifamily acquisitions we plan in the Raleigh/Durham market,” says M. Patrick Carroll, founder and CEO of Carroll. “We are strategically targeting the best multifamily assets in markets with demand drivers like strong job growth and other positive demographic trends. New Haven fits our investment philosophy perfectly, allowing us to own a terrific asset for well below replacement cost.”