ATLANTA, GA - Carroll Organization, an Atlanta-based multifamily real estate firm, has acquired Villas at Edgewater Apartments located in Webster, Texas. The 414-unit luxury community will be rebranded as ARIUM Edgewater. The community is Carroll Organization's tenth multifamily acquisition within 18 months. The transaction closed October 19, 2012.
The community was purchased in a joint venture with an institutional equity partner. Carroll Management Group, an affiliate company, will be managing the new acquisition. Josh Champion, President of Investments, states, "This acquisition fits perfectly with our strategy of leveraging our operational expertise and historically low interest rates to generate attractive annual returns for our investors." We are actively looking for strategic acquisitions in target markets across the United States.
ARIUM Edgewater is a luxury community with an array of custom features and high end amenities, located just 25 miles south of Downtown in the prestigious Edgewater development. This area has become a hub for engineering firms, chemical companies, NASA, hospitals and biotechnology It provides a diversified economic base that strengthens the area's competitive edge in the market place. ARIUM Edgewater interiors boast fully equipped chef's kitchen, washer/dryers, built in computer desk and private patios and balconies along with direct access garages with individual driveways. This beautifully appointed property also features a high-tech Cardio Strength training fitness center, Wi-Fi computer/coffee lounge, two resort-style pools, and richly landscaped courtyard with outdoor grilling areas.
About Carroll Organization: Carroll Organization is a multifaceted enterprise focusing on the ownership and operation of multifamily real estate. Its primary areas of business are real estate investment, property and asset management services and fund management. This integrated approach, which makes the organization an attractive investment partner, has contributed to the firm's rapid growth and success. Founded in 2004, Carroll Organization has grown significantly through the acquisitions of both properties and former competitors. Carroll Organization is headquartered in Atlanta with regional offices located in Houston, Austin, Charlotte, Tampa and Miami. For more information, visit www.carrollorganization.com