Already an influential player in multifamily, CARROLL caught many by surprise with its vigorous 55 property acquisition and 20 property disposition sprint over 12 months, spanning November 2017 to October 2018. These acquisitions increased Carroll’s AUM to $4.88 Bn, property count to 102, unit count to 33,000 and people count to over 800 – a 50% increase over the period.
The secret lies with the great teams that drive strategy execution. In fulfilling such an ambitious 2018 strategy, CARROLL relied on diverse teams across multiple geographies and placed significant trust in hundreds of associates to not only successfully execute the acquisitions, but also operationalize dynamic, multi-faceted business plans.
It’s the uniqueness of our people that allow them to adapt and execute with ease. Born of an entrepreneurial hunger and built on a lean mantra, CARROLL thrives because of its culture – a culture built from the ground up by its people and championed across the 800+ employee organization. Finding the right people to live those values day in and day out sets the foundation for the company. With a young leadership team at the helm eager to break the industry mold, CARROLL expects excellence - nothing less.
This culture of delegation, collaboration, and trust, plus CARROLL’s unique entrepreneurial, autonomous spirit enables teams to execute any strategy. People today have good ideas; it’s how we translate them into actionable points that produce returns and performance. CARROLL adopts a delegative, independent spirit to help teams further execute any strategy. And it’s the willingness of team members to take ownership and think for themselves that enables companies like CARROLL to move ambitiously, seek opportunity, reinvest in culture and ultimately, drive results.
So, when forging new deals and entering new markets or partnerships, consider the following:
• Ensure investment partners can translate strategy into execution
• Make sure your investment partner is attentive and engrossed in the development of people and culture – a culture of trust, autonomy, free-thinking, and high standards
• Challenge yourself to learn as much about the people behind the investment partnership as the real estate