Atlanta, GA – Carroll Organization, one of the country’s leading privately-held real estate companies focused on multifamily investment, management, and development announced today that it completed the sale of ARIUM Overland Park in Overland Park, Kansas. This property was initially acquired off-market in July 2016. The property was a part of Carroll Multifamily Real Estate Fund IV, LP and managed by Carroll Management Group.

“The off-market acquisition of ARIUM Overland Park was our entrance into the Kansas City market, and specifically to the premier suburban community of Overland Park,” said M. Patrick Carroll, Chief Executive Officer of Carroll Organization. “With its superior amenity package, luxury interior finishes, and desirable floor plans with 100% attached garages, we were able to cater to the exceptional demographics in the area with a best-in-class rental product. After over two years of ownership, we made the election to exit and posted a solid return for our investors, consistent with our initial underwritten business plan.”

ARIUM Overland Park is a 402-unit apartment community built in 2015. The property features “Big House” style construction with large units, individual ground floor entries, and attached garages, which are particularly attractive for renters seeking an apartment that feels more like a home. ARIUM Overland Park is located on West 135th street in close proximity to I-35, 435, and 635, providing residents with easy access to Downtown Kansas City, Country Club Plaza, and the KCI Airport. Community amenities include a saltwater resort-style pool with grilling stations, a resident retreat with cyber center and billiards, fitness center, and dog park. Units feature granite countertops, stainless steel appliances, custom wood cabinetry, full-sized washers and dryers, and private patios/balconies.

To date, Carroll has successfully exited sixty assets valued over $2.7 billion, including this transaction. The investments have produced an average IRR of 30%. Since 2017, Carroll has now sold thirty-one properties totaling over $1.6 billion and purchased forty-eight properties totaling over $2.1 billion. Carroll Organization is continuing to actively acquire high-quality multifamily communities in the Southeast and Southwest, and other strategic target markets across the country. Carroll sourced many of its deals “off-market” directly from developers and owners and is recognized in the industry as a best in class renovator and operator.