JACKSONVILLE, FL—Carroll Organization is continuing its focus on Florida—and Jacksonville—multifamily with yet another acquisition. The company just snapped up its 11th major multifamily asset in Florida in less than a year.

The Atlanta-based commercial real estate company acquired the 204-unit Island Club at Atlantic Beach in Jacksonville. National Property Holdings provided Carroll with a $4.6 million investment of equity.

“We are extremely bullish on the residential market in Florida that has come back with a vengeance after the housing collapse a few years ago,” says M. Patrick Carroll, founder and CEO of the Carroll. “Island Club provided us with the ideal opportunity to expand our rapidly growing portfolio in the region and own yet another exceptional asset with great upside potential.”