ATLANTA—Carroll Organization is demonstrating its wisdom in the multifamily market once again. The privately-held real estate company inked its 11th multifamily disposition of 2017 just before the end of the year.

Carroll sold ARIUM HomePlace in Prattville, AL. This property was initially acquired in October 2015 as a part of Carroll Multifamily Real Estate Fund III and was managed by Carroll Management Group.

“ARIUM HomePlace represented the opportunity to own one of the premier multifamily communities in Montgomery, within the high-growth submarket of Prattville,” says M. Patrick Carroll, CEO of Carroll Organization. “We acquired the property during its initial lease-up at a favorable basis relative to today's replacement cost and have experienced a strong track record of rent growth and occupancy during our ownership. Given the strong pricing recently achieved for well-located garden product in secondary markets, we elected to sell the asset and realize an excellent return for our investors.”