CARROLL Expands Its Florida Presence With the Acquisition of Two Multifamily Communities

The Atlanta-Based National Real Estate Firm Continues to Strengthen Its Position in the Tampa and South Florida MSAs With the Addition of More Than 600 Units

CARROLL, a national real estate investment and management company, acquired Lincoln Pointe in Aventura, Fla., and Crosswynde Apartments in Tampa, Fla., with Lincoln Pointe being rebranded under the Firm’s ARIUM brand, adding more than 600 total units to the Firm’s 14,000-unit portfolio in Florida.

A waterfront property, ARIUM Lincoln Pointe, located between Miami and Fort Lauderdale, provides residents with proximity to both business districts, major retail centers, public transportation, and outdoor spaces. The 285-unit community is less than two miles from the Aventura Brightline Station, which – when completed – will offer residents convenient access to major Florida metros. This acquisition represents the most recent deal in CARROLL and LCOR’s ongoing partnership that currently includes assets in Florida and Georgia. Following the acquisition, CARROLL and LCOR plan to renovate community interiors and exteriors, including improvements to the pool, fitness center, and clubhouse.

Minutes from Tampa Bay, Crosswynde, a multifamily condo community, adds 326 units to the Firm’s portfolio – with the opportunity to continue acquiring units as they become available. The resort-style community, located along two major thoroughfares, the Selmon Expressway and U.S. 301, which provide direct access to I-75 and Downtown Tampa, as well as numerous employment hubs. Featuring nine-foot ceilings and a variety of floor plans, Crosswynde is intended to cater to both individuals and families. CARROLL plans to renovate unit interiors to include stainless-steel appliances, quartz countertops, plank flooring, updated lighting, and plumbing fixtures.

“With steady population and employment growth and record-high demand for multifamily housing, CARROLL continues to be bullish on Florida and these two MSAs in particular,” said M. Patrick Carroll, founder and CEO of CARROLL. “We believe these properties are well located and offer residents access to some of Florida’s high‐growth markets, while also taking advantage of CARROLL’s management experience in the state as we seek to realize proceeds for our investors.”

These two acquisitions come on the heels of CARROLL’s 12-property portfolio purchase across four Florida MSAs in December 2021. Since its inception, CARROLL has invested more than $2.2 billion in equity across the state, with these deals bringing the Firm’s inception-to-date acquisition activity to $11.4 billion.

About CARROLL

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 $4.0 billion of equity through CARROLL-sponsored funds and joint ventures. CARROLL has successfully purchased, developed, or sold more than $18.0 billion in real estate. CARROLL also has regional offices in Dallas-Fort Worth, Raleigh, Denver, Tampa, and New York.

The company manages more than 33,000 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 managed more than $500 million in construction projects throughout the past 10 years. From due diligence to execution, CARROLL has the internal capabilities and the external relationships to identify, underwrite, and close transactions.