Two Camden properties sold to Carroll Organization
Carroll Organization said it has acquired three multifamily properties in Florida and North Carolina from Camden Property Trust (NYSE: CPT).
Two of the properties are in Tampa: Camden Bay Pointe and Camden Citrus Park. The third apartment is in Charlotte, N.C.
The Atlanta-based buyer said it would re-brand the Tampa properties as Arium Bay Point and Arium Citrus Park.
Public records show a $29,215,000 consideration from Camden Properties L.P. to Arium Bay Pointe LL LLC, but it was unclear if the price included the Citrus Park property. A public relations firm that issued a release on behalf of Carroll Organization said it could not provide additional information.
"The properties in the Camden portfolio are situated in markets with exceptional fundamentals and growth, and in areas we have been targeting over the past year," M. Patrick Carroll, founder and CEO of the Carroll Organization, said in the release. "These acquisitions perfectly fit our strategy of buying good locations with excellent visibility, and the additional opportunity to increase value through capital improvements, and interior renovations."
In October the Tampa Bay Business Journal reported the two Camden properties were part of a larger portfolio being marketed by Engler Financial Group of Atlanta.
SOURCE: TAMPA BAY BUSINESS JOURNAL
