Carroll Organization Holds Initial Closing for Institutional Investment Vehicle
Atlanta, GA – Carroll Organization, one of the country’s leading privately-held real estate companies focused on multifamily investment, management and development, announced today the first closing of its latest investment vehicle, Carroll Multifamily Real Estate Fund V, L.P., for $40 million. The fund focuses on generating attractive risk-adjusted returns by acquiring cash-flowing properties with value-add upside by taking advantage of Carroll’s relationships, platform and resources.
Carroll Multifamily Real Estate Fund V represents an important milestone for Carroll as it is the first time the firm has raised institutional capital in a fund format. Carroll has always partnered with many of the country’s largest institutional investors on a deal-by-deal and programmatic basis in joint ventures. The new institutional fund provides Carroll the additional capital necessary to make larger GP equity commitments that will allow it to continue to successfully grow its institutional joint venture investment strategy. More importantly, having access to fund institutional capital, together with its solid relationships with institutional joint venture partners, best positions Carroll to capitalize on market trends, including any future correction in the multifamily market.
As designed, Carroll Multifamily Real Estate Fund V will allow the firm the capacity to acquire 20-30 properties alongside a joint venture limited partner, while not facing the pressure to deploy a much larger fund. This ability to remain nimble is extremely important to Carroll. The fund has already acquired seven seed multifamily properties across Texas, Florida, and South Carolina, and has a strong pipeline of investments for future acquisition.
