MIAMI—It's not quite a baker's dozen, but it's still an impressive multifamily feat for Atlanta-based Carroll Organization. Even as it continues its multifamily spending spree in its home state, the privately-held real estate company just wrapped up its 12th major multifamily deal in Florida.

In a joint venture with Bluerock Real Estate, Carroll acquired more than 70% of the units at the 774-unit condominium Lansbrook Village in Palm Harbor, Tampa. It's a clear sign that Carroll believes in the Florida housing market's strength. The company will make capital improvements to the project.

“Since the national economic downturn in 2008, Florida's residential market has experienced a major renaissance,” says M. Patrick Carroll, founder and CEO of Carroll. “It is without question, a key market for us and one that we are targeting for continued investments. Lansbrook is an excellent investment opportunity, due to its attractive location, tremendous value-add potential, and basis below replacement cost.”