CARROLL Explores New Opportunities Following Proven Success
With demand for multifamily housing showing no signs of slowing down, CARROLL is exploring new funds, partnerships, territory expansion, and more.
CARROLL is well-positioned heading into the second half of 2021 after a number of strategic transactions to start the year. As such, recognizing the increased interest and demand within the multifamily housing industry, CARROLL is exploring future plans for expansion of its multifamily investment platform with the opportunity of a new fund that would increase the $2.7 billion of equity already raised through CARROLL-sponsored funds and joint ventures since inception.
Relying on a proven deal-flow process and a proprietary, data-forward strategy, CARROLL has successfully navigated market changes throughout the past 18 months to maintain its transactional activity. As a result, CARROLL has continued to see increased returns across the portfolio, with an average gross realized IRR of 25% against 96 realized inception-to-date deals.
Beyond the possibility of a new fund, the firm is evaluating additional suburban opportunities in western U.S. in Q3 to meet the surge in multifamily demand as people face rising challenges to home-ownership.
While the details of the new fund are still undetermined, this would mark the seventh, CARROLL-sponsored fund in the company’s history. The first fund, Carroll Co-Invest Fund 1, was launched in 2011 and marked a new phase of the firm’s growth. In 2017, CARROLL transitioned its fund strategy from high-net-worth to institutional investors with the launch of Carroll Multifamily Real Estate Fund V, LP the firm’s fifth fund. The latest investment vehicle, Carroll Multifamily Venture VI, LP, was launched in 2019 at $125 million, and is still actively investing today
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 $2.7B of equity through CARROLL-sponsored funds and joint ventures. CARROLL has successfully purchased, developed or sold more than $12.9 billion of real estate. CARROLL also has regional offices in Houston, Raleigh, Tampa, and New York.
The company manages 27,000 multifamily units in seven 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.