To date, Carroll has exited forty assets valued over $1.9 billion, including this transaction. The investments have produced an average IRR in excess of 30%. In 2017, Carroll sold eleven properties totaling over $810 million and purchased forty properties totaling over $1.6 billion.

Carroll Organization is staying the course with its strategy—to actively acquire high-quality multifamily communities in the Southeast and Southwest, and other strategic target markets across the country. Carroll sourced many of its deals “off-market” directly from developers and owners, and is recognized in the industry as a best in class renovator and operator.

“Atlanta is seeing continued rent growth due to its increasing population and subsequent job creation,” says Kevin Geiger, vice chairman at CBRE tells GlobeSt.com. “It is not unusual for the suburban parts of Atlanta to experience organic rent growth, which peeks investors' interest. Atlanta is one of the few markets nationwide that inks solid rent growth and occupancy growth at this late stage in the cycle, and as investors seek value-add opportunities, the three suburban properties in this portfolio provide the opportunity through renovations.”

(Dunwoody's multifamily market is flexing its muscles with investors. Get all the details.)