CARROLL Acquires Santa Rosa Beach Multifamily Community
The newly built, garden-style community brings the Firm’s presence in Florida to more than 8,500 units under management.
CARROLL has acquired Ariza Forest View, a 283-unit community in Santa Rosa Beach, Fla. The asset, rebranded under the name ARIUM Santa Rosa Beach, acquired through CARROLL’s institutional fund vehicle, Carroll Multifamily Venture VI, LP, increases the firm’s presence in Florida to more than 8,500 units. ARIUM Santa Rosa Beach, a newly built (2020) garden-style community, exhibits strong occupancy and rent growth in a supply constrained sub-market. The community is well-located between Destin and Panama City Beach, with easy access to world-class beaches and tourist destinations.
Since its inception in 2004, the Firm has maintained a strong position in multiple Florida markets, including 64 property transactions, accounting for nearly 24,000 units. With its continued population growth, attractive tax advantages, and business-friendly climate, CARROLL expects to see continued performance in the Sunshine State.
Thus far in 2021, CARROLL has executed 17 transactions (6,250 units) totaling nearly $1.3 billion and continues to actively acquire high-quality multifamily communities in the Southeast, Southwest, Mountain West, and other strategic target markets across the country.
CARROLL, a privately held real estate company, was founded in 2004. With headquarters in Atlanta, Ga., CARROLL focuses on multifamily communities, including acquisitions, property and asset management services, and fund management. The firm has raised more than $2.8 billion of equity through CARROLL-sponsored funds and joint ventures. CARROLL has successfully purchased, developed or sold more than $13.3 billion of real estate and has regional offices in Dallas-Fort Worth, Raleigh, Denver, Tampa, and New York.
The company manages 28,000 multifamily units in eight states and has purchased other multifamily owner/operators throughout the U.S. The firm has also developed student housing, single-family residential, and retail communities, and has overseen more than $250 million of construction management for both its owned and fee partners. From due diligence to execution, CARROLL has the internal capabilities and the external relationships to identify, underwrite, and close transactions. For more information, visit carrollorg.com.