Carroll Organization Acquires Roswell, GA Apartment Community – The Firm’s 12th Acquisition
Atlanta/Roswell — Carroll Organization, an Atlanta-based multifamily real estate firm, has acquired Greenhouse Apartments located in Roswell, Georgia. The 236-unit community will be rebranded as ARIUM North Point. The community is Carroll Organization's 12th multifamily acquisition within 18 months. The transaction closed December 21, 2012.
The community was purchased in a joint venture with Origin Capital and Silverpeak Real Estate Partners. Carroll Management Group, an affiliate company, will be managing the new acquisition. Josh Champion, President of Investments, states, "This acquisition fits perfectly with our investment strategy; acquiring below replacement cost with great current yield, value-add renovations, and attractive financing to generate exceptional returns for our investors. We are actively looking for strategic acquisitions in target markets across the United States.”
ARIUM North Point is a boutique community, located just minutes from GA 400 between Alpharetta and Roswell. This area has outstanding convenience to prime retail district, Downtown Main Street Alpharetta, North Point Mall, and Downtown Roswell. This area is considered the Data Center for the South with numerous technology, telecommunications, and healthcare companies such as McKesson, Verizon Wireless and North Fulton Hospital. It provides a diversified economic base that strengthens the area's competitive edge in the market place. The community is located in one of Atlanta's most sought-after school districts, Milton High School. ARIUM North Point interiors boast designer details with spacious solariums, built in bookshelves and private balconies. Select apartment homes will feature upgraded appliances, counter tops, cabinets with all new hardware, upgraded plumbing and electrical fixtures throughout. This beautifully appointed property also features a high-tech Cardio Strength training fitness center, Wi-Fi computer/coffee lounge, and resort-style pool.
