CARROLL Launches Sixth Investment Vehicle
CARROLL, one of the country’s leading privately-held real estate companies announced the 1st closing for its 6th investment vehicle, Carroll Multifamily Venture VI, L.P. with an expected total size of ~$150 million. This sixth vehicle will be its largest ever, surpassing its $60 million in the fifth vehicle.
CARROLL, one of the country’s leading privately-held real estate companies focused on multifamily investment, management, and development announced the 1st closing for its 6th investment vehicle, Carroll Multifamily Venture VI, L.P. with an expected total size of ~$150 million. This sixth vehicle will be its largest ever, surpassing its $60 million in the fifth vehicle. The investor base consists of institutional investors, including public and private pension plans and renowned financial institutions. With the utilization of debt and co-investments from institutional partners, the vehicle has the capacity to acquire over $5 billion in apartment investments.
Carroll Multifamily Venture VI, L.P. will focus on generating attractive risk-adjusted returns by acquiring cash-flowing multifamily properties in markets with strong fundamentals in the Southeast, Southwest, Mountain and Mid-Atlantic regions, as well as other strategic markets around the country. CARROLL will leverage its relationships, resources and operating platform to acquire value-add and core-plus properties with opportunities to enhance cash flows through improved management and capital investment.
"CARROLL is well-positioned to deploy capital and take advantage of attractive opportunities due to our extensive experience, relationships and market knowledge. Our value proposition is to provide institutional investors with these compelling direct investments, and we remain bullish about the significant opportunities offered in the multifamily real estate market,” said M. Patrick Carroll, Chief Executive Officer of CARROLL. "We are grateful to our investors for their commitment to our latest venture. This is a great milestone for our company, as it shows confidence in CARROLL's investment strategy, management team and operating platform, as well as the acknowledgement of our strong track record.”
Carroll Multifamily Venture VI, L.P. is CARROLL's second time raising an investment vehicle with institutional capital. This new, larger institutional vehicle provides CARROLL the additional capital necessary to make larger equity commitments and to continue to successfully grow its institutional joint venture investment strategy. The vehicle will target core-plus and value-add multifamily properties of varying ages and building types with a focus on finding affordability and value within each segment. CARROLL plans to continue to source many of its deals “off-market” directly from developers and owners.
CARROLL, a privately-held real estate company, was founded in 2004. With headquarters in Atlanta, CARROLL focuses on multifamily properties, including acquisitions, property and asset management services, and fund management. The firm has raised over $2.4 billion of equity through CARROLL sponsored funds and joint ventures. CARROLL has successfully purchased, developed or sold over $10.2 billion of real estate. CARROLL also has regional offices in Houston and Orlando.
The company manages over 35,000 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 properties, and has overseen more than $200 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 www.CarrollOrganization.com.