M Patrick Carroll is the founder and CEO of the real estate investment and management firm CARROLL. Those capital letters of his last name are a nod to his ambition, which you can see written all over his storied career. We look at how the leader is starting Q3 off strong with some successful transactions in the Southeastern states, and how he’s setting new standards in this competitive environment.
A Strong Acquisition in the Orlando Area
Florida has seen strong gains over the past year, brought on by a number of factors. From a business-friendly climate to low taxes, the population has been steadily rising. Taking this into consideration, real estate investor M Patrick Carroll recently purchased a 522-unit multifamily property known as The Avenue in the greater metropolitan area of Orlando.
The purchase was funded by the company’s latest institutional channel, Carroll Multifamily Venture VI, LP. As Carroll would put it, “Orlando has a dynamic business climate that continues to diversify far beyond its tourism roots, benefitting from a highly-skilled workforce and a broadening industry base featuring rising healthcare and technology sectors.” This purchase puts the company at 2,500 units in the area, a strong presence in a rapidly growing city.
Two Impressive Sales in Atlanta
The ARIUM Station 29 and ARIUM Dunwoody developments were both multifamily properties managed under the ARIUM multifamily division at CARROLL. Both properties were located in favorable locations in Atlanta, near a number of employment opportunities for people from all backgrounds. They also featured gated entrances and exits, which helped the properties stand out in the area and gained notoriety as an upscale place to live.
The appearance and reputation of these properties came down to the management strategies the CARROLL staff would implement. As CEO of CARROLL, M Patrick Carroll saw a lucrative opportunity to cash in the investment. It’s no wonder these sales came with big gains to the company.
Setting New Standards
Southeastern real estate has been thriving lately, and CARROLL is a strong player in the industry. One of the ways that CARROLL’s M Patrick Carroll has stood out in the crowd is through his due diligence. Instead of writing off properties because other firms aren’t interested, he takes the time to analyze the numbers and ponder the overall rewards of the decision.
Throughout it all, he puts a high priority on improving the properties he buys. For instance, he’ll be completely renovating the interior of The Avenue in the Orlando area and rebranding it under ARIUM Lakeview, a nod to the community’s 19-acre lake. He’ll also be improving the common areas and the amenities offered as well.
This is a good start to the last quarter of the year, one that reinforces the strong position the company has in the markets. As M Patrick Carroll winds down the final months of 2021, it’s likely even bigger moves will be on the horizon.