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CARROLL raises more than $340m for latest fund investment vehicle

CARROLL, a national real estate investment firm, has held the final closing of its seventh investment vehicle, Carroll Multifamily Venture VII with more than $340 million in capital from two institutional investor closings in July 2022 and December 2021.

The fund will target multifamily assets in line with the firm’s value-add and core-plus investment strategy across the Sun Belt region with $5.5 billion in total buying power.
 
CARROLL’s seventh investment vehicle closed at more than double the size of the Firm’s prior vehicle, Carroll Multifamily Venture VI, which closed in 2019 at $125 million. The increased commitment follows a record year in transaction activity for the Firm and represents new investment opportunities. In addition to securing properties with joint venture partnerships, the size and structure of this vehicle will allow CARROLL to fully purchase deals on its own, enhancing its credibility and reach in the marketplace.
 
To date, Fund VII has acquired 14 properties in five states – Georgia, Florida, North Carolina, Texas, and Arizona – valued at $1.3 billion. As a result of the vehicle’s structure, three of the 14 deals were acquired at 100% ownership, a new investment strategy for the Firm.

This closing comes on the heels of an H1 2022 activity report that included $2.6 billion in total transaction volume, a new market, and the addition of five key new hires to bolster the Firm’s executive leadership team.

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