Carroll Makes Sixth Atlanta Multifamily Buy
ATLANTA—Carroll Organization isn’t showing any signs of slowing down on its multifamily acquisition spree. The privately-held commercial real estate company just acquired Bexley Apartments, a 494-unit multifamily community at the epicenter of Cobb County’s two major thoroughfares, Cumberland and Kennesaw.
The transaction marks Carroll’s sixth major multifamily purchase in Atlanta and its eighth major acquisition in Georgia. American Property Holdings provided the Carroll with a $9.5 million investment of equity.
"Bexley is one of the best located assets in Cobb County, an area with exceptional economic growth, a great school system, and a high quality of life," says M. Patrick Carroll, founder and CEO of Carroll. "The property benefits from its proximity to a number of employment centers and with our hands-on management we are confident it will further maximize the value of this already great asset."
Built in 1988, the multifamily property is located off of Cobb Parkway and sits on 41 acres. As Carroll mentioned, Bexley Apartments is near the area’s top employers and major corporate headquarters, as well as retail opportunities. The area’s economic anchors include the Cobb Galleria, Lockheed Martin, Home Depot’s Corporate Call Center, Life University and Southern Poly Tech.
SOURCE: GLOBEST.COM
