CARROLL Continues to Grow National Presence With An 819-Unit Expansion Into Las Vegas Market

The Firm eyes additional opportunities in Western real estate market, starting with the acquisition of two Las Vegas multifamily properties

ATLANTA, GEORGIA, UNITED STATES, August 18, 2021 /EINPresswire.com/ — – CARROLL, a national real estate investment and management firm, continues to expand its diverse portfolio, pursuing new investment opportunities in the western U.S. The most recent expansion includes the acquisition of two properties totaling 819 units in the Las Vegas metro area, ARIUM Emerald Springs and ARIUM Meadows, adding the eighth state to its list of markets where capital is currently deployed.

“Our team is excited about the prospect of new business growth and opportunity on the horizon as we explore additional high-growth markets, starting with Las Vegas,” said M. Patrick Carroll, Founder and CEO of CARROLL. “The Las Vegas metro area, which accounts for more than 400,000 local jobs, felt the impact of the pandemic, but has quickly rebounded to keep pace with the recovering economy. We anticipate this bounce-back trend to continue not only in the Las Vegas real estate market, but across the west as a whole.”

As part of a larger move out west, CARROLL has identified Las Vegas as a great leaping off point and a market that is primed to experience an upward trajectory in economic growth moving through the end of 2021 and beyond. According to the most recent U.S. Census data, Nevada is the fifth fastest-growing state in the past decade. Las Vegas is also recognized as one of the fastest-growing employment bases in the country and saw a population growth of 2.2% in 2020 – despite the pandemic – making it an attractive opportunity for new business and expansion. The city features key indicators that align with CARROLL’s investment strategy, including low taxes, an uptick in new residents, and a friendly business environment.

With previous success in markets that provide an opportunity for strong deal flow and better cap rates than traditional gateway markets, CARROLL had particular interest in Las Vegas. The hiring of Brett Richards as Executive Vice President of Investments in early 2021 gave CARROLL added expertise and familiarity in the market. When paired with a data-forward approach to investing and a results-oriented asset management strategy, the Firm is confident in its ability to produce immediate success in new markets.

“We like the ease of doing business in new secondary markets.” said Brett Richards, Executive Vice President of Investments for CARROLL. “We’re not shying away from our traditional markets, necessarily, but we do enjoy the migration and growth that’s occurring in a lot of these secondary markets further west.”

The expansion into western markets demonstrates CARROLL’s commitment to growth, adding value for their investors, and highlights their diligence in finding the right opportunities to supplement year-over-year growth.

For more information about CARROLL, visit www.carrollorg.com.

About CARROLL
CARROLL, a privately held real estate company, was founded in 2004. With headquarters in Atlanta, Ga., CARROLL focuses on multifamily communities, including acquisitions, property and asset management services, and fund management. The firm has raised more than $2.7B of equity through CARROLL-sponsored funds and joint ventures. CARROLL has successfully purchased, developed or sold more than $13.1 billion of real estate. CARROLL also has regional offices in Houston, Raleigh, Tampa, and New York.

The company manages 27,000 multifamily units in eight states and has purchased other multifamily owner/operators throughout the U.S. The firm has also developed student housing, single-family residential, and retail communities, and has overseen more than $250M of construction management for both its owned and fee partners. From due diligence to execution, CARROLL has the internal capabilities and the external relationships to identify, underwrite, and close transactions. For more information, visit carrollorg.com.

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Jackie Kraper
Interdependence PR
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